Bursa Malaysia ends morning session marginally higher

KUALA LUMPUR, June 10 ― Bursa Malaysia ended the morning session marginally higher after trading in a range-bound mode, as investors’ risk appetite was capped by the rise in Covid-19 fatalities and daily infections in the country.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.17 points or 0.074 per cent to 1,582.65 from yesterday’s close of 1,581.48.

The index opened 1.87 points better at 1,583.35 today.

Market breadth was positive with gainers leading losers 445 to 419, while 450 counters were unchanged, 846 untraded, and 29 others suspended.

Turnover stood at 2.92 billion units worth RM1.41 billion.

Malaysia reported a record-breaking 75 Covid-19 fatalities yesterday, with new infections at 6,239.

Rakuten Trade Sdn Bhd said the market undertone is expected to remain weak amidst the unrelenting Covid-19 daily tally.

“Hence, we reckon the FBM KLCI to hover within the 1,570-1,580 range today.

“Meanwhile, the premium for the takeover of IJM Plantations by Kuala Lumpur Kepong Bhd may be a good indication that the prevailing elevated crude palm oil prices may be here to stay,” it said in a note today.

Of the heavyweights, Maybank stayed flat at RM8.20, Public Bank gained one sen to RM4.21, and PetChem rose two sen to RM8.07.

Among the actives, Vsolar and XOX were flat at two sen and five sen, respectively, while Managepay eased 2.5 sen to 24 sen.

Top gainers were Transocean which bagged 64 sen to RM4.24, IJM Plantations which improved 58 sen to RM3.04, and Kobay Technology which earned 49 sen to RM2.32.

On the index board, the FBM Emas Index increased 19.45 points to 11,546.06, the FBMT 100 Index climbed 19.15 points to 11,233.73, while the FBM ACE went down 7.62 points to 7,660.19.

The FBM Emas Shariah Index rose 28.24 points to 12,697.11 and the FBM 70 strengthened 67.70 points to 14,970.97.

Sector-wise, the Financial Services Index fell 11.64 points to 15,283.87, the Industrial Products and Services Index inched up 0.43 point to 192.72, and the Plantation Index pared 30.12 points to 6,781.34. ― Bernama

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