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KUALA LUMPUR, April 7 -- Bursa Malaysia ended the morning session in a positive territory on bargain-hunting in selected heavyweight stocks, despite the overnight weaker performance on Wall Street.
At lunch break, the FBM KLCI was 2.83 points better at 1,581.74 from Tuesday’s close of 1,578.91.
The index opened 5.47 points higher at 1,584.38, and moved between 1,575.18 and 1,589.06 throughout the morning session.
On the broader market, losers led gainers 486 versus 447, while 447 counters were unchanged, 752 untraded and 10 others suspended.
Total volume stood at 3.57 billion shares worth RM1.82 billion.
Regionally, Singapore’s Straits Times Index eased 0.06 per cent to 3,205.73, Japan’s Nikkei was 0.17 per cent better at 29,747.46, Hong Kong’s Hang Seng was down by 0.65 per cent to 28,751.38, and South Korea’s Kospi added 0.20 per cent to 3,133.49.
A dealer said the local bourse opened firmer today and stayed in the positive territory throughout the morning session on bargain-hunting, rebounding from its previous two days of losses.
However, he said the regional peers remained mixed today amid cautious trading on Wednesday following negative cues overnight on Wall Street.
“The US equities pulled back from the prior session’s record closing highs as investors are cautious over upcoming quarterly earnings reports, while awaiting the minutes Federal Reserve’s latest monetary policy meeting on Wednesday for market direction,” he said.
He said the investors also remained wary over China’s central bank’s directive to the nation’s major lenders to curtail loan growth for the rest of this year after a surge in the first two months on bubble risks concerns.
Of the heavyweights, Maybank and Public Bank added one sen each to RM8.32 and RM4.21, respectively, Petronas Chemicals shed six sen to RM7.89, Tenaga eased two sen to RM10.14, while IHH Healthcare was flat at RM5.30.
Among the active counters, Berjaya Corp improved 3.5 sen to 44 sen, Dagang NeXchange rose five sen to 85.5 sen, while Macpie and MLabs eased half-a-sen each to 10 sen and four sen, respectively, and Dataprep shed three sen to RM1.07.
On the index board, the FBM Emas Index was up 15.12 points to 11,733.74, the FBMT 100 increased 10.0 points to 11,382.42, the FBM Emas Shariah advanced 22.71 points to 12,997.92, and the FBM ACE expanded 15.38 points to 9,646.53.
The FBM 70 fell 25.77 points to 15,771.79.
Sector-wise, the Plantation Index went up 41.47 points to 6,981.10, the Industrial Products and Services Index edged up 0.11 of-a-point to 193.25, and the Financial Services Index gained 1.65 points to 15,242.01.