Bursa Malaysia finished the morning session mixed due to mild bargain-hunting activities on selected heavyweight stocks ahead of the US inflation data due to be released this week, said a dealer.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.16 points to 1,444.51 from Tuesday’s close of 1,441.35.
The market bellwether, which opened 2.27 points firmer at 1,443.62, moved between 1,439.69 and 1,446.27 throughout the session.
However, on the broader market, decliners outpaced advancers 387 to 326, while 380 counters were unchanged, 1,222 untraded, and eight others suspended.
Turnover stood at 1.74 billion units valued at RM760.66 million.
In a note on Wednesday, Malacca Securities Sdn Bhd said the US consumer price index was expected to remain elevated at least for the rest of 2022.
“Moreover, given the concerns over China’s ongoing zero-Covid policy weighing on the economy, we believe that investors would position themselves using the earnings season as well as 15th general election as the near-term catalysts,” the stockbroking firm said in the note.
It also reckoned that technology stocks may rise with the Nasdaq climbing for the third session.
Among the heavyweights, Malayan Banking Bhd (Maybank) gained 12 sen to RM8.62, CIMB Group Holdings Bhd added four sen to RM5.46, Public Bank Bhd was flat at RM4.38, Petronas Chemicals Group Bhd was unchanged at RM8.55, and IHH Healthcare Bhd lost three sen to RM5.97.
As for the active stocks, Advance Synergy Bhd eased half-a-sen to 12 sen, Avillion Bhd rose 1.5 sen to 10.5 sen, Eduspec Holdings Bhd increased half-a-sen to 2.5 sen, KNM Group Bhd inched up one sen to five sen, and Malayan United Industries Bhd was unchanged at 10.5 sen.
On the index board, the FBM 70 Index was 16.6 points higher at 12,139.09, the FBM Emas Index widened 20.37 points to 10,247.01, the FBMT 100 Index inched up 19.93 points to 9,981.39, and the FBM Emas Shariah Index improved 0.69 of a point to 10,309.06.
However, the FBM ACE declined 11.05 points to 4,930.38.
Sector-wise, the Financial Services Index perked up 95.23 points to 16,256.6, the Industrial Products and Services Index edged up 0.22 of a point to 173.84, the Plantation Index rose 20.15 points to 6,855.21, and the Energy Index slid 3.84 points to 720.62.
