Bursa Malaysia extended its gains at midday, with plantation heavyweights providing support as investors looked past lingering geopolitical concerns in the Middle East.
At 12.35pm, the FTSE Bursa Malaysia KLCI rose 14.96 points, or 0.89%, to 1,687.70 after trading between 1,673.70 and 1,689.09 during the morning session.
The broader market was also positive, with the FBM Emas Index gaining 77.44 points to 12,590.12 while the FTSE4Good Bursa Malaysia Index advanced 6.94 points to 1,016.58. However, the FBM70 Index slipped 13.39 points to 18,392.83.
Plantation counters were among the biggest contributors to gains. Among the top gainers, Kuala Lumpur Kepong Berhad rose RM0.86 to RM20.36, while SD Guthrie Berhad added RM0.26 to RM6.10. United Plantations Berhad climbed RM0.82 to RM30.94 and Nestlé (Malaysia) Berhad gained RM2.76 to RM96.28.
Market sentiment was supported by easing oil prices after Lebanon and Israel agreed to implement a ceasefire, raising hopes of a broader de-escalation in the Middle East. Brent crude traded around US$97 per barrel after retreating from recent highs, although investors remain cautious over developments involving Iran and the Strait of Hormuz.
In active trade, VS Industry Berhad led volumes with nearly 979 million shares changing hands, followed by Zetrix AI Berhad and SKP Resources Berhad.
On the downside, Malaysian Pacific Industries Berhad fell RM1.02 to RM47.88, making it the biggest loser at midday, while Press Metal Aluminium Holdings Berhad shed RM0.30 to RM8.98.
