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Bursa Malaysia closes midday at more than 3-year high as investors run-up banking, construction stocks

KUALA LUMPUR: Bursa Malaysia extended its rally to push the FTSE Bursa Malaysia KLCI to a more than 3-year high supported by buying interest in financial services, construction, plantation sectors.

At 12.30pm, FTSE Bursa Malaysia (FBM) KLCI closed 0.66 per cent or 10.66 points higher at 1,636.62 versus Tuesday's close of 1,625.96.

The benchmark index which opened marginally higher at 1,629.98 moved between 1,629.89 and 1,638.83 in the morning trading session.

The broader market saw gainers led losers 691 to 380 while 486 counters were unchanged.

The 48-stock Bursa Malaysia Construction Index closed 4.1 per cent higher at a seven-year high as investors mopped up constructions stocks ahead of expected critical infrastructure spending.

FBM100 added 0.7 per cent to 12,266.87, FBM Emas gained 0.8 per cent to 12,700.94, while the FBM ACE was up 0.97 per cent to 6,020.89.

Among the top gainers were Gamuda Bhd which added 37 sen to RM8.32 and IJM Construction which added 23 sen to RM3.71 a share.

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