KUALA LUMPUR, Dec 8 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, was mixed in the early session Thursday, amidst the lack of buying momentum.
At 9.22 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.43 points to 1,468.31 from Wednesday’s closing of 1,466.88. The market bellwether opened 0.49 of-a-point easier at 1,467.37.
On the broader market, losers edged past gainers at 229 versus 208, while 269 counters were unchanged, 1,549 untraded and 11 others suspended.
Turnover stood at 454.02 million units worth RM146.66 million (US$1=RM4.40).
In a research note Thursday, Malacca Securities Sdn Bhd said it believes that the focus would be on the re-tabling of Budget 2023, noting that traders will be watching the government’s move to tackle the high cost of living.
“Investors may favour the banking stocks in the window dressing month while looking out for defensive consumer stocks to acquire under this challenging environment,” the brokerage firm said.
Tourism stocks may also be on their radar after China eases its zero COVID-19 measures, while the technology sector may see further selldown as investors could be in a risk-off mode amid global uncertainties, it said.
Among the heavyweights, Public Bank added one sen to RM4.43, TNB surged 10 sen to RM9.17 and Hong Leong Bank strengthened 14 sen to RM20.48, while Maybank was flat at RM8.65, Petronas Chemicals slipped 10 sen to RM8.45, and CIMB eased two sen to RM5.64.
Of the actives, Sarawak Consolidated rose one sen to 18.5 sen, Comintel jumped 19 sen to 88 sen and Borneo Oil edged up half-a-sen to 2.5 sen, while KNM was flat at five sen and AHB Holdings declined 2.5 sen to 16 sen.
On the index board, the FBM Emas Index added 3.71 points to 10,547.37, the FBMT 100 Index advanced 8.32 points to 10,253.84, the FBM Emas Shariah Index improved by 11.34 points to 10,698.40, the FBM 70 went up 3.62 points to 12,904.94, and the FBM ACE expanded by 11.52 points to 5,510.23.
Sector-wise, the Plantation Index ticked up 2.22 points to 6,728.53, while the Financial Services Index slid 7.01 points to 16,476.55, the Industrial Products and Services Index dwindled 0.85 of-a-point to 180.52, and the Energy Index lessened by 5.75 points to 782.64.
— NNN-BERNAMA