Share prices on Bursa Malaysia continued the upward momentum at midday today after the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) broke past the resistance level of 1,490, dealers said.
The key index ended the morning session higher by 1.52 per cent or 22.32 points at 1,494.42, mostly boosted by gains in finance stocks. The FBM KLCI had opened 14.82 points higher at 1,486.92 this morning.
A dealer said finance stocks continued to support the FBM KLCI amid the spillover effect of news that the world's leading central banks had acted jointly to inject much-needed liquidity into the global financial system.
Central banks in the United States, Europe, the United Kingdom,Canada, Japan and Switzerland, agreed to cut the cost of existing dollar swap lines by 50 basis points from next Monday, in a bid to help European banks hurting as a result of the euro zone debt crisis.
Furthermore, the dealer said, upbeat US data also helped spark a massive rally in risk assets, suggesting the economic recovery to be more stable than thought.
However, the dealer said the local bourse could remain steady in a tight range given that the FBM KLCI could not sustain its 1,500 level after breaking past 1,502.53 earlier.
On Bursa Malaysia, the market sentiment remained positive with 529 advancers and 201 decliners while 259 counters were unchanged.
Volume stood at 946.87 million shares worth RM1.02 billion.
The Finance Index surged 228.93 points to 13,386.69, the Plantation Index jumped 137.87 points to 7,827.89 and the Industrial Index increased 48.23 points to 2,683.44.
The FTSE Bursa Malaysia Emas Index advanced 132.70 points to 10,196.69, the FTSE Malaysia Mid 70 Index perked 90.04 points to 11,009.13 and the FTSE Bursa Malaysia Ace Index was 4.79 points higher at 4,139.91.
Volume leaders, 1 Utopia, rose 1 sen to 9 sen, Extol MSC gained 2 sen to 19.5 sen while Compugates declined 0.5 sen to 8.5 sen.
As for heavyweights, Maybank advanced 15 sen to RM8.45, Sime Darby was up 4 sen to RM9.04 and CIMB jumped 12 sen to RM7.26. -- Bernama
The key index ended the morning session higher by 1.52 per cent or 22.32 points at 1,494.42, mostly boosted by gains in finance stocks. The FBM KLCI had opened 14.82 points higher at 1,486.92 this morning.
A dealer said finance stocks continued to support the FBM KLCI amid the spillover effect of news that the world's leading central banks had acted jointly to inject much-needed liquidity into the global financial system.
Central banks in the United States, Europe, the United Kingdom,Canada, Japan and Switzerland, agreed to cut the cost of existing dollar swap lines by 50 basis points from next Monday, in a bid to help European banks hurting as a result of the euro zone debt crisis.
Furthermore, the dealer said, upbeat US data also helped spark a massive rally in risk assets, suggesting the economic recovery to be more stable than thought.
However, the dealer said the local bourse could remain steady in a tight range given that the FBM KLCI could not sustain its 1,500 level after breaking past 1,502.53 earlier.
On Bursa Malaysia, the market sentiment remained positive with 529 advancers and 201 decliners while 259 counters were unchanged.
Volume stood at 946.87 million shares worth RM1.02 billion.
The Finance Index surged 228.93 points to 13,386.69, the Plantation Index jumped 137.87 points to 7,827.89 and the Industrial Index increased 48.23 points to 2,683.44.
The FTSE Bursa Malaysia Emas Index advanced 132.70 points to 10,196.69, the FTSE Malaysia Mid 70 Index perked 90.04 points to 11,009.13 and the FTSE Bursa Malaysia Ace Index was 4.79 points higher at 4,139.91.
Volume leaders, 1 Utopia, rose 1 sen to 9 sen, Extol MSC gained 2 sen to 19.5 sen while Compugates declined 0.5 sen to 8.5 sen.
As for heavyweights, Maybank advanced 15 sen to RM8.45, Sime Darby was up 4 sen to RM9.04 and CIMB jumped 12 sen to RM7.26. -- Bernama
