Bursa Malaysia ends morning trading higher

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.64 points to 1,550.44 from yesterday’s close of 1,538.80. — Bernama pic
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.64 points to 1,550.44 from yesterday’s close of 1,538.80. — Bernama pic

KUALA LUMPUR, May 13 ― Bursa Malaysia ended the morning trading session in the positive territory, driven by encouraging gross domestic product (GDP) data and economic outlook, coupled with improving regional markets’ performance, an analyst said.

In a press conference today, Bank Negara Malaysia announced that Malaysia’s economy has rebounded in the first quarter of 2022 (Q1 2022), registering a five per cent growth versus a contraction of 0.5 per cent in Q1 2021.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.64 points to 1,550.44 from yesterday’s close of 1,538.80.

The barometer index, which opened 7.18 points higher at 1,545.98, moved steadily between 1,541.15 and 1,551.22 throughout the session.

On the broader market, gainers surpassed losers 509 to 303, while 388 counters were unchanged, 1,043 untraded and 19 others suspended.

Total turnover stood at 1.43 billion units worth RM1.13 billion.

OANDA senior market analyst Asia Pacific Jeffrey Halley said Asian equities are staging a relief rally today after the Wall Street stabilised late in the session.

At press time, Japan’s Nikkei 225 strengthened by 2.48 per cent to 26,386.57, Singapore’s Straits Times Index edged up 1.10 per cent to 3,200.05, and Hong Kong’s Hang Seng Index improved 2.0 per cent to 19,767.36.

Back home, Bursa heavyweights Maybank eased six sen to RM9.01 and Public Bank was down by four sen to RM4.59, while Petronas Chemicals gained 11 sen to RM9.98, Press Metal rose 36 sen to RM5.16, and Sime Darby Plantation gained 20 sen to RM5.10.

Of the actives, MNC added one sen to three sen, both Serba Dinamik and Yong Tai added half-a-sen to nine sen and 10.5 sen, respectively, while Techna-X fell half-a-sen to 11 sen.

On the index board, FBM ACE improved 23.82 points to 5,253.60, FBM Emas Index advanced 73.53 points to 11,026.57, FBMT 100 Index firmed 67.94 points to 10,708.42, FBM Emas Shariah Index ticked up 152.02 points to 11,453.80, and FBM 70 added 31.33 points to 12,998.17.

Sector-wise, the Financial Services Index contracted 73.22 points to 16,628.26, while the Industrial Products and Services Index was 3.77 points higher at 197.24, and the Plantation Index climbed 154.15 points to 8,176.04. ― Bernama