KUALA LUMPUR: Bursa Malaysia closed higher at midday boosted by buying momentum in the financial services sector.
At 12.30pm, FTSE Bursa Malaysia (FBM) KLCI was up 0.42 per cent or 6.96 points to 1,672.61.
The key index moved between 1,669.37 and 1,674.04 in morning trade today.
The broader market saw gainers led losers 663 to 399 while 414 counters were unchanged.
Maybank Investment Bank said in a note that the FBM KLCI began the day on a positive note, driven by local investors capitalising on the rising momentum following the US Fed's recent significant rate cut.
"The energy sector index declined, potentially reflecting the mild pullback in oil prices today. "The property sector continues to rebound from its recent low, with EcoWorld Malaysia surpassing its RM3.5 billion sales target in the first 10 months of the financial year, driven by strong performance in Iskandar Malaysia, Johor," it said.
On the index board, FBM100 rose 60.89 points to 12,248.70, FBM Emas added 62.13 points to 12,550.84 and FBM Ace gained 2.77 points to 5,182.15.