KUALA LUMPUR: Bursa Malaysia continued to diverge at midday, with the financial services sector supporting gains in the key index, while the broader market stayed in the negative.
At 12:30 p.m., the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.28 per cent, adding 4.49 points to reach 1,614.96, up from the previous close of 1,610.47.
Across the broader market, decliners outnumbered advancers 499 to 332, with 474 counters remaining unchanged.
Malacca Securities Sdn Bhd said the recent positive turn in US markets followed a period of declines, along with a strengthening US dollar, could lead to increased buying interest in the local market, especially within the technology and glove sectors.
"Meanwhile, the oil and gas sector may remain muted due to softer Brent oil prices, but plantation and gold-related stocks could trend positively as crude palm oil (CPO) and gold remain in an uptrend."Besides, we favour selected consumer, construction, and property stocks," it said.