KUALA LUMPUR: Bursa Malaysia ended midday mixed, after buying interest in selected heavyweight counters helped prop up the key index to close marginally higher.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.87 of-a-point to 1,539.00 from Wednesday's close of 1,538.13.
The benchmark index, which opened 2.53 points weaker at 1,535.60, fluctuated between 1,533.80 and 1,539.00 throughout the day.
Market breadth remained negative with decliners outpacing gainers 429 to 408, while 503 counters were unchanged, 974 untraded and 26 others suspended.
Meanwhile, Malacca Securities Sdn Bhd said the US stock markets traded mixed prior to the release of Producer Price Index data later tonight as the inflation number will be crucial for the Federal Reserve in determining the interest outlook going forward.
"However, we expect the general tone on the local front may remain positive amid bargain hunting activities in the small cap stocks," it said in a note today.
It said given the weakness in the technology sector in the US, it believes the upside for Technology stocks could be minimal on the local front.
"Meanwhile, we believe traders could focus on the commodities sector like oil and gas and plantation sector, with the firmer performance on the underlying commodities overnight. "Besides, we favour selected consumer, property, construction and banking stocks," Malacca Securities said.
