KUALA LUMPUR: Bursa Malaysia stayed in positive territory supported by persistent buying in heavyweights.
At 12.30pm, FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.58 per cent or 8.67 points to 1,496.01 from last Friday's close of 1,487.34.
The key index opened 0.94 points higher at 1,488.28 and moved between 1,487.81 and 1,496.88 during the morning session.
The broader market saw gainers lead decliners 463 to 417 while 424 counters were unchanged.
Turnover was at 2.94 billion shares. On the index board, FBM100 gained 0.47 per cent to 10,812.07, FBM Emas added 0.49 per cent to 11,171.01 and FBM Ace was up 0.12 per cent to 5,338.06.
Hong Leong Investment Bank (HLIB) Research noted that the FBM KLCI continued its healthy consolidation for a third session, to as low of 1,482 levels before ending 4.3 points higher to 1,487.3 on Friday.
It expects current healthy consolidation to continue for a while before resuming an upward trajectory towards 1,504-1,512-1,528 levels.
"Downside is likely to be well-cushioned by favourable domestic leads such as economic transformation via the National Energy Transition Roadmap, New Industrial Master Plan 2023 and reinvigoration of developments in Johor; rising foreign direct invstment momentum, the return of foreign investors, and rising risk appetite for the laggard Bursa Malaysia amid Fed's expected pivot and undemanding KLCI's current year 2024 price to earning at 13.4 times," it said. -end-