corporate

Bursa Malaysia breaks for midday mixed as buying interest focuses on banks

KUALA LUMPUR: Bursa Malaysia ended the morning trading session mixed as buying interest was mostly centred on banking heavyweights.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.09 points or 0.38 per cent to 1,597.50 from Friday's close of 1,591.41.

The benchmark index opened 2.69 points higher at 1,594.10 and hovered between 1,592.57 and 1,601.90 throughout the session.

The broader market was negative with losers led gainers 513 to 338, while 484 counters were unchanged, 1,098 untraded and 19 suspended.

Turnover stood at 1.49 billion units worth RM1 billion.

Maybank Investment Bank Bhd said the FBM KLCI kick-started the week on a positive note, although it remained below the 1,600 level.

It stated that the broad market sided with the bears, with most sector indices turning red by the midday break.

"The financial sector opened higher compared to last Friday, led by gains in Public Bank Bhd and Maybank, while the technology sector also saw some upward movement.

"In contrast, risk-off sectors, such as utilities, healthcare, telco and media, and REITs, remained in negative territory," it added.

Most Popular
Related Article
Says Stories