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Bursa Malaysia closes midday mixed tracking regional markets

KUALA LUMPUR: Bursa Malaysia ended the morning session mixed tracking regional stock markets.

At 12.30pm, FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.28 per cent to 1,559.61 from last Friday's close of 1,555.25.

The benchmark index opened 1.53 points higher at 1,556.78 and fluctuated between 1,554.15 and 1,559.64 throughout the morning trading session. On the broader market, decliners outpaced gainers 458 to 455, while 472 counters were unchanged.

Turnover amounted to 2.56 billion units worth RM1.17 billion.

On the global front, Wall Street rebounded as investor sentiment turned positive after the job growth data came in higher versus consensus expectations despite the possibility of delayed rate cuts, suggesting a preference for a more resilient economy, said Malacca Securities Sdn Bhd.

"With the rebound on Wall Street, we believe our stock markets could maintain its upward tone for the session," it added.

The research house said traders should focus on commodity related sectors such as oil and gas, plantation, and gold with their respective commodity prices charging higher.

"Meanwhile, we believe the momentum within the construction, property and building material sectors may continue with the likelihood of more mega infrastructure projects to be announced this year," said Malacca Securities Sdn Bhd.

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