KUALA LUMPUR: Bursa Malaysia closed higher at midday supported by ongoing bargain-hunting in sectors such as utilities, construction, and banking.
At 12.30pm today, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.54 per cent or 7.99 points to 1,470.36 from Wednesday's close of 1,462.37.
The main index began the session 0.48 points higher at 1,462.85, fluctuating between 1,461.03 and 1,470.36 throughout the morning period.
On the broader market, gainers outnumbered losers 543 to 407, while 419 counters were unchanged.
Turnover stood at 3.76 billion units worth RM1.91 billion.
Malacca Securities Research expects the technology sector will cap the upside for now, given the sell down on Wall Street.
The firm said from the trading activities in the market, it noticed that the water-related stocks were traded strongly higher.
"This might be due to the potential water tariff revision, and the high usage of the upcoming data centre boom," it said in a note today.
Meanwhile, the firm expects the Johor-theme, potential revival of the Kuala Lumpur-Singapore high speed rail (HSR), ongoing Rapid Transit System (RTS) link and easing of Malaysia My Second Home (MM2H) requirements to boost the attention for the construction, building material, property and utilities sectors.
