KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
KUALA LUMPUR (Nov 8): The FBM KLCI ended up 0.4 point or 0.02% at 1,609.73 today after paring gains shortly following a spike in the final trading hour.
The KLCI spike followed Bank Negara Malaysia's (BNM) announcement that the statutory reserve requirement (SRR) ratio for banks will be lowered from 3.5% to 3% effective from Nov 16.
BNM said today in a statement the move aims to maintain sufficient liquidity in the domestic financial system. At Bursa Malaysia, the KLCI spiked to its intraday high at 1,614.19 in the final trading hour after falling to its intraday low at 1,606.02.
Analysts said banking shares reacted positively to the news as a lower SRR ratio means financial insitutions will have more money to lend to borrowers.
Nomura head of equity research for Malaysia Tushar Mohata told theedgemarkets.com the KLCI was boosted at the 11th hour mainly by banks' share price rise.
The list includes KLCI-linked banks Public Bank Bhd and CIMB Group Holdings Bhd.
“The slight pick up seen in the KLCI today was due to BNM cutting the SRR ratio from 3.5% to 3%,” the analyst said.
At Bursa, a late jump in Public Bank's share price, helped the stock reach its intraday high of RM20.20. At the 5pm market close, Public Bank pared gains at RM19.94 for an eight sen or 0.4% rise.
Across Bursa, turnover stood at 3.11 billion shares worth RM2.15 billion. Top gainers included VSTECS Bhd and CIMB Group Holdings Bhd as world markets took cue from the status of US-China trade talks.
Reuters reported that Asian stocks retreated from six-month highs on Friday as conflicting signals from China and the US on progress made in trade talks deflated market hopes of a near term truce to end their damaging tariff war.
It was reported that Friday's market moves contrast with Thursday's surge of optimism in global markets on news Beijing and China have agreed to roll back tariffs on each others' goods as part of the first phase of a trade deal.
"Multiple sources familiar with the talks said the plan faced fierce internal opposition at the White House and from outside advisers. Worries the pact could fall apart as there was still no specific agreement for a phased rollback prompted some investors to sell heading into the weekend," Reuters reported.
Source: The Edge
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