KUALA LUMPUR, Nov 10 — Bursa Malaysia extended its uptrend momentum at mid-morning today on strong buying support in index-linked counters, led by the banking stocks, and amidst growing hopes for Covid-19 vaccine, dealers said.
At 11.02am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) surged 23.97 points or 1.57 per cent to 1,548.29 — its highest level in almost three months.
Gainers edged past losers 611 to 564, while 539 counters were unchanged, 434 untraded and 33 others suspended.
Total volume stood at 6.32 billion worth RM3.68 billion.
Among banking stocks, Public Bank soared RM1.38 to RM16.68, Maybank rose 39 sen to RM7.51, Hong Leong Bank increased 86 sen to RM15.56, CIMB advanced 18 sen to RM3.24 and RHB Bank bagged 28 sen to RM4.66.
Investors are banking on financial-linked stocks as the blanket moratorium has not been extended under Budget 2021, which bodes well for banks’ earnings.
The Financial Services Index shot up 678.4 points to 12,945.67.
In a research note, Maybank Investment Bank Bhd said it expects the FBM KLCI to range between 1,500 and 1,550 today, with downside supports revised to 1,500 and 1,470, from 1,450 and 1,415 previously.
Of other heavyweights, Top Glove fell 66 sen to RM7.82 and Hartalega lost RM1.64 to RM16.58.
Tenaga rose 52 sen to RM10.78, while both Petronas Chemicals and IHH Healthcare bagged four sen to RM6.41 and RM5.44, respectively.
Of the actives, AT Systematization shed 3.5 sen to 18 sen, AirAsia X earned two sen to six sen, Kanger added one sen to 20 sen, while Pegasus was flat at 2.5 sen.
On the index board, the FBM Emas Index chalked up 128.19 points to 11,168.39, the FBMT 100 Index was 132.59 points better at 10,965.32, and the FBM 70 went up 30.67 points to 14,519.71.
The FBM Emas Shariah Index contracted 127.14 points to 13,205.77 and the FBM ACE fell 162.02 points to 11,213.15.
The Industrial Products and Services Index added 0.16 of-a-point to 151.41, while the Plantation Index trimmed 7.21 points to 7,141.52. — Bernama