KUALA LUMPUR: Bursa Malaysia closed its midday session on a mixed note, with the benchmark index in positive territory while the broader market saw declines.
At 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.17 per cent, gaining 2.79 points to reach 1,603.60, up from its previous close of 1,600.81.
Despite the index's gains, the broader market was negative, with 491 losers outpacing 321 gainers, while 523 counters remained unchanged.
Malacca Securities Sdn Bhd said the market will centre on state-specific thematic plays such as Prime Minister Anwar Ibrahim's proposal to position Sarawak as Malaysia's energy hub.
The firm said this is expected to drive further developments in the state, benefitting East Malaysia-related counter.
Malacca Securities added the initiation of six water projects valued at over RM1.8 billion, along with the launch of the Penang LRT project, is projected to enhance Penang-related counters.
"The formalisation of the Johor-Singapore Special Economic Zone (JSSEZ), combined with continuous foreign direct investment (FDI) inflows and data centre investments, is expected to support Johor-linked counters," it adds.