Improved investor risk appetite pushed Bursa Malaysia to extend gains at midday today, led by Tasek Corporation, Batu Kawan and Petronas Gas, dealers said.
Reversing losses incurred earlier this week, the FTSE Bursa Malaysia KLCI (FBM KLCI) at 12.30 pm rose 7.04 points to 1,557.53, after opening 5.14 points lower at 1,484.81.
Affin Investment Bank head of retail research Dr Nazri Khan said the performance of the local bourse was now steadier on the back of an improved market sentiment globally.
Robust economic data from the United States and renewed hope that Greece would secure a long-awaited bailout next week, lifted the performance of global equities markets.
"The uptrend today was in line with our expectation that the market will rebound after the correction that took place this week.
"We anticipated the correction phase. The risk appetite is now stable amid an improved regional sentiment," he told Bernama.
The Finance Index added 61.71 points to 13,833.65, the Plantation Index increased 35.819 points to 8,830.39 and the Industrial Index climbed 21.54 points to 2,912.79.
The FBM Emas Index went up 48.29 points to 10,828.64, the FBM Mid 70 Index edged up 46.20 points to 12,330.29 and the FBM Ace added 28.66 points to 4,684. Gainers outstripped losers 426 to 232 with 349 counters unchanged. A total of 1.213 billion shares worth RM880.561 million were traded.
Among active stocks, Tasek Corporation added 49 sen to RM8.49, Batu Kawan gained 34 sen to RM19.86 and Petronas Gas advanced 22 sen to RM16.58.
For the heavyweights, Maybank rose four sen to RM8.54, Sime Darby increased nine sen to RM9.63, Petronas Chemicals was unchanged at RM6.88 and CIMB went up two sen to RM7.27. -- Bernama
Reversing losses incurred earlier this week, the FTSE Bursa Malaysia KLCI (FBM KLCI) at 12.30 pm rose 7.04 points to 1,557.53, after opening 5.14 points lower at 1,484.81.
Affin Investment Bank head of retail research Dr Nazri Khan said the performance of the local bourse was now steadier on the back of an improved market sentiment globally.
Robust economic data from the United States and renewed hope that Greece would secure a long-awaited bailout next week, lifted the performance of global equities markets.
"The uptrend today was in line with our expectation that the market will rebound after the correction that took place this week.
"We anticipated the correction phase. The risk appetite is now stable amid an improved regional sentiment," he told Bernama.
The Finance Index added 61.71 points to 13,833.65, the Plantation Index increased 35.819 points to 8,830.39 and the Industrial Index climbed 21.54 points to 2,912.79.
The FBM Emas Index went up 48.29 points to 10,828.64, the FBM Mid 70 Index edged up 46.20 points to 12,330.29 and the FBM Ace added 28.66 points to 4,684. Gainers outstripped losers 426 to 232 with 349 counters unchanged. A total of 1.213 billion shares worth RM880.561 million were traded.
Among active stocks, Tasek Corporation added 49 sen to RM8.49, Batu Kawan gained 34 sen to RM19.86 and Petronas Gas advanced 22 sen to RM16.58.
For the heavyweights, Maybank rose four sen to RM8.54, Sime Darby increased nine sen to RM9.63, Petronas Chemicals was unchanged at RM6.88 and CIMB went up two sen to RM7.27. -- Bernama
