KUALA LUMPUR (Oct 10): Bursa Malaysia ended the morning trading session higher, in sync with regional bourses’ upbeat performance as market sentiments turned positive, fuelling investors' risk appetite.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.85 points to 1,431.11 from Monday’s closing of 1,417.26. 

The index, which opened 2.07 points higher at 1,419.33 in the morning, moved between 1,419.33 and 1,432.31 during the session.

The market breadth was positive with gainers beating decliners 463 to 341, while 399 counters were unchanged, 1,123 untraded and nine others suspended.

Turnover stood at 2.07 billion units worth RM957.4 million.

Hong Leong Investment Bank Bhd (HLIB) said the KLCI appears to have found interim support near the 1,411 level.

“Any residual strength in the current rebound may push the benchmark towards 1,438 and 1,451 zones. Conversely, a breakdown below 1,411 may exacerbate selling pressure towards 1,390-1,400 levels,” it said in a note on Tuesday.

HLIB expects a spike in volatility ahead for the KLCI, due to the US Federal Reserve’s policy; China’s recovery pace; the strengthening of the US dollar as the Middle East conflict spurs flight to safety; escalating inflation concern as "war risk premium" boost oil prices; and fears of unpopular new taxes and tightening budgets in Budget 2024.

Among the heavyweights, Maybank Bhd, Public Bank Bhdand CIMB Group Holdings Bhd added six sen each to RM8.86, RM4.09 and RM5.48, respectively, Tenaga Nasional Bhd inched up one sen to RM9.98 and Petronas Chemicals Group Bhd increased 10 sen to RM7.27. 

Of the actives, Classita Holdings Bhd edged up 1.5 sen to eight sen, NETX Holdings Bhd added 2.5 sen to 19 sen, UEM Sunrise Bhd perked four sen to 84.5 sen and MQ Technology Bhd went up half a sen to three sen, while KNM Group Bhd eased three sen to 11.5 sen. 

On the index board, the FBM Emas Index advanced 92.3 points to 10,601.54, the FBMT 100 Index improved by 91.39 points to 10,269.62, the FBM 70 Index expanded by 90.57 points to 14,120.32, the FBM Emas Shariah Index jumped 90.4 points to 10,881.88 and the FBM ACE Index recovered 1.57 points to 5,129.08.

Sector-wise, the Financial Services Index soared 138.57 points to 16,025.41, the Energy Index accumulated 5.52 points to 873.19, the Industrial Products Services Index was 1.36 points higher at 171.99, the Plantation Index edged up 54.45 points to 6,904.3 and the Consumer Products and Services Index rose 3.28 points to 551.58.