PM selection lifts Bursa Malaysia at mid-afternoon, KLCI up 3.3 per cent

KUALA LUMPUR: The upward momentum on Bursa Malaysia continued into mid-afternoon with the key index surging by 3.3 per cent, thanks to improved risk appetite fueled by more clarity in the local political scene.

At 3 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 47.09 points to 1,490.59 from 1,443.5 at Wednesday's close.

The market bellwether, which opened 7.18 points higher at 1,450.68 this morning, moved as high 1,491.07 at one point.

Market breadth was bullish with advancers hammering decliners 825 to 201, while 284 counters were unchanged, 1,023 untraded, and 84 others suspended.

Turnover stood at 4.72 billion units valued at RM2.31 million.

The Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah today consented to the appointment of Tambun Member of Parliament Datuk Seri Anwar Ibrahim as Malaysia's 10th Prime Minister.

The appointment was finalised after His Majesty deliberated the opinions of the Malay rulers who convened a special meeting at Istana Negara today.

The presentation of the instrument of appointment and the swearing-in ceremony will be held at Istana Negara at 5 pm today.

Among the heavyweight stocks, Maybank soared 22 sen to RM8.77, Public Bank surged 20 sen to RM4.48, Petronas Chemicals climbed 31 sen to RM9.09, CIMB increased 21 sen to RM5.72, IHH Healthcare rose four sen to RM6.03, and Tenaga gained three sen to RM8.72.

As for the actives, Advance Synergy bagged 11 sen to 28.5 sen, Malayan United Industries gained 2.5 sen to 12.5 sen, and CSH Alliance added one sen to 4.5 sen, while Eden shed 4.5 sen to 14.5 sen.

On the index board, the FBM Emas Index jumped 321.84 points to 10,588.06, the FBMT 100 Index gained 319.16 points to 10,316.59, the FBM Emas Shariah Index lifted 314.89 points to 10,731.62, the FBM ACE rose 167.61 points to 5,141.34, and the FBM 70 increased 363.05 points to 12,614.29.

Sector-wise, the Financial Services Index shot up 436.39 points to 16,604.6, the Industrial Products and Services Index added 4.74 points to 184.6, and the Energy Index increased 14.18 points to 758.04, while the Plantation Index dipped 4.41 points to 6,863.28.

-- BERNAMA