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KUALA LUMPUR: Malaysia’s benchmark stock entered the lunch break more than 10 points higher as investors picked up blue chips ahead of a key US inflation reading.
As the market paused for the end of the early session, the key index stood 10.65 points higher at 1,541.25, en route to a strong first quarter close.
The improved performance was seen across the market, which logged 455 gainers compared to 410 decliners and 477 counters unchanged.
The trading volume was 1.7 billion shares valued at RM1.4bil.
The jump on Bursa Malaysia was in line with Asian markets, seen picking up over the morning session on an increase in trading confidence, led by the record performances of the Dow Jones and S&P500 overnight.
While the US stock exchange will remain shuttered tonight for the start of the Good Friday holiday, investors remain focused on the release of the US Personal Consumption Expenditure price index, which is the Federal Reserve’s preferred gauge of inflation.
China’s Composite Index rose 0.5% to 3,025 while Japan’s Nikkei also added 0.5% to 40,355.
Hong Kong’s stock market, however, remained closed for Good Friday.
Leading Bursa Malaysia’s blue chips higher was CIMB, climbing 14 sen to RM6.69, on renewed optimism over the growth prospects of the banking group.
Other heavyweight banks were also on the rise, including Maybank gaining four sen to RM9.69, Public Bank adding three sen to RM4.24, Hong Leong Bank climbing three sen to RM19.40, AmBank rising three sen to RM4.20 and RHB putting on three sen to RM5.67.
Of actives, Hong Seng was unchanged at one sen, Lambo was flat at three sen and MMAG gained 1.5 sen to 19 sen.
