Bursa Malaysia remained firmly in positive territory at midday on Aug 20, tracking gains across regional markets as global risk appetite improved following the US Treasury’s move to at least double buyback sizes for longer-term debt.
The move helped ease concerns over elevated bond yields after the 30-year US Treasury yield climbed to its highest level since 2007 earlier this week.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.97 points, or 0.34%, to 1,737.29, from its close of 1,731.32 on Aug 19. The index traded between 1,732.11 and 1,739.13 during the morning session.
The positive tone extended across Bursa Malaysia’s key indices. The FBM 70 advanced 90.99 points, or 0.50%, to 18,225.26, making it the strongest performer among the major indices. The F4GBM gained 3.60 points, or 0.35%, to 1,042.29, while the FBM Emas climbed 45.47 points, or 0.36%, to 12,850.21. The FBM Shariah was also higher, adding 37.98 points, or 0.30%, to 12,673.11.
Despite the gains in the indices, broader market breadth remained slightly negative. Losers edged gainers 513 to 508, while 557 counters were unchanged, 1,294 untraded and 16 suspended.
Malaysian Pacific Industries Bhd was the biggest loser at midday, falling 98 sen to RM45.12, followed by United Plantations Bhd, which slipped 30 sen to RM31.70, while Dutch Lady Milk Industries Bhd fell 24 sen to RM31.70. Petronas Chemicals Group Bhd declined 22 sen to RM4.47, while Ayer Holdings Bhd shed 20 sen to RM7.30.
On the upside, Nestle (M) Bhd topped the gainers list, rising 80 sen to RM104.80. YTL Power International Bhd added 24 sen to RM5.12, while parent YTL Corporation Bhd jumped 18 sen to RM2.40. MI Technovation Bhd gained 17 sen to RM6.42, while Fraser & Neave Holdings Bhd advanced 16 sen to RM26.40.
The strong showing in YTL counters also translated into heavy trading activity, with YTL Corp emerging among the session’s most actively traded stocks.
On that note, IJM Corporation Bhd was the most actively traded counter, with about 186.73 million shares changing hands. The stock gained 11 sen to RM2.80, after trading between RM2.68 and RM2.81.
CBH Engineering Holding Bhd followed with about 60.44 million shares traded, rising 6.5 sen to 85.5 sen after moving between 83 sen and 92 sen.
YTL Corp recorded turnover of about 47.3 million shares, climbing 18 sen to RM2.40. It traded between RM2.23 and RM2.42.
JCY International Bhd rose one sen to 52.5 sen on approximately 37.25 million shares, after touching a low of 49.5 sen and a high of 53.5 sen.
Rounding out the top five, Land & General Bhd was unchanged at 18 sen, with about 29.5 million shares traded within a range of 17 sen to 18 sen.
Total turnover stood at 2.28 billion shares worth RM2.07 billion.
With regional markets supportive and bond-market pressures showing signs of easing, Bursa Malaysia headed into the afternoon session with its benchmark index holding comfortably above the 1,730-point level.
