Bursa Malaysia ended the morning trading session in positive territory on Thursday, lifted by continued buying support for selected heavyweights.
At 12.30pm, the FBM KLCI had risen by 3.75 points to 1,539.54, from Wednesday’s close at 1,535.79.
The benchmark index, which opened 3.33 points firmer at 1,539.12, moved between 1,534.66 and 1,540.81 throughout the morning session.
Market breadth was positive, with advancers leading decliners 518 to 430, while 407 counters were unchanged, 981 untraded, and 11 others suspended.
Turnover amounted to 2.32 billion units worth RM1.42 billion.
ActivTrades trader Anderson Alves said Asian stock markets continued to rise following a robust rally in US equity markets, where major indices achieved new closing highs.
“This optimism is primarily driven by the US Federal Reserve’s confirmation of its forecast of three interest rate reductions in 2024,” he said.
Looking forward, the focus is set to shift to key US economic indicators, such as jobless claims, the Philly Fed manufacturing index, and preliminary purchasing managers index readings.
He said these data points will offer deeper insights into the economic landscape.
“Anticipation of weaker data may lead traders to place dovish bets in the next session, potentially favouring equities, as global central bankers lean towards a more accommodative stance,” he added.
On the local bourse, heavyweights CIMB Group Holdings Bhd added seven sen to RM6.55 a share. Petronas Chemicals Group Bhd also gained seven sen to RM6.90, while Tenaga Nasional Bhd was flat at RM11.50.
Malayan Banking Bhd (Maybank) lost three sen to RM9.54, and Public Bank Bhd fell one sen to RM4.23.
Among the actives, Evergreen Max Cash Capital Bhd gained five sen to 50 sen, Minetech Resources Bhd increased 2.5 sen to 16 sen, and Ekovest Bhd was two sen firmer at 49.5 sen.
Meanwhile, Top Glove Corp Bhd slid four sen to 82 sen, and Velesto Energy Bhd was half a sen weaker at 28.5 sen.
On the index board, the FBM Emas Index improved by 42.61 points to 11,527.57, the FBMT 100 Index expanded 38.33 points lower to 11,177.2, and the FBM Emas Shariah Index gained 57.98 points to 11,620.0.
The FBM ACE Index strengthened by 22.96 points to 4,795.97, and the FBM 70 Index surged by 100.27 points to 15,906.42.
Sector-wise, the Plantation Index was up 11.82 points to 7,306.55, the Energy Index rose 2.19 points to 938.86, the Industrial Products and Services Index edged up 2.11 points to 179.35, and the Financial Services Index firmed 22.90 points to 17,147.08.
