KUALA LUMPUR: Bursa Malaysia saw mixed performance at the midday, with the key index rising following Google's announcement of a RM9.4 billion investment in Malaysia.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.40 points to 1,607.75 against Wednesday's close of 1,605.35.
The benchmark index opened 1.11 points lower at 1,614.71 and fluctuated between 1,602.32 and 1,608.68 throughout the morning trading session in Bursa Malaysia.
On the broader market,decliners led gainers 590 to 473, with 436 counters unchanged.
Turnover stood at 3.27 billion units worth RM2.09 billion.
In a note today, Hong Leong Investment Bank Bhd (HLIB) said the index may consolidate its gains further as
investors navigate the peak of the May results season and Fed's rate-cut uncertainty.
Nevertheless, it said downside risk is likely to be cushioned at 1,580-1,600 zones.
"This is boosted by a more stable ringgit, clearer policy frameworks in attracting foreign direct investment (FDI) along with trends such as China.
"Political stability is also expected to expedite economic and fiscal reforms to foster long-term growth and competitiveness," it said.
