KUALA LUMPUR: – Bursa Malaysia remained higher at mid-morning today on purchasing support in many heavyweights, in particular in the oil and gas (O&G) area, merchants said. – Malaysia Stocks Picks
At 11.08am (Malaysia Stocks Picks),
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) remained at 1,777.80, up 11.24 focuses against Tuesday’s end of 1,766.56.
The list opened 9.73 focuses higher at 1,776.29 at 9am.
Gainers drove failures 505 to 239, while 406 counters were unaltered, 600 untraded and 19 others suspended.
Turnover remained at 1.53 billion shares worth RM1.07 billion.
In a note today, Hong Leong Investment Bank said exchanging enthusiasm for the O&G segment, took after the recuperation in Brent Crude oil costs which come to above US$50 a barrel.
“In any case, the FBM KLCI’s upside could be restricted to around 1,770-1,780 as market members receive a keep a watch out position in front of Prime Minister Datuk Seri Najib Tun Razak’s visit to China on May 14-15,” it included.
For the heavyweights, Maybank enhanced one sen to RM9.37, TNB fell two sen to RM13.88, Public Bank was level at RM19.98, while Sime Darby increased two sen to RM9.33. - Malaysia Stocks Picks
Among the O&G stocks, PChem expanded 15 sen to RM7.31, PetGas livened 84 sen to RM19.34 and PetDag was 28 focuses higher at RM24.28.
For the actives, Netx recouped a large portion of a-sen to 10 sen, AirAsia X rose 1.5 sen to 51.5 sen and IWCity expanded nine sen to RM1.70.
The FBM Emas Index enhanced 86.50 focuses to 12,731.86, the FBMT 100 Index rose 83.00 focuses to 12,360.79, while the FBM Emas Shariah Index progressed 91.39 focuses to 13,086.89.
The FBM 70 took off 121.14 focuses to 15,333.39 and the FBM Ace was 34.91 focuses better at 6,358.39.
On a sectoral premise, the Industrial Index was 43.28 focuses higher at 3,276.79, the Plantation Index added 21.54 focuses to 8,091.46 and the Finance Index bounced 91.49 focuses to 16,408.22.
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