KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
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KUALA LUMPUR (Nov 15): Bursa Malaysia closed lower on Monday due to profit-taking activities, mainly in banking and gaming heavyweights.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) contracted 8.88 points, or 0.58%, to 1,522.34 after moving between 1,520.27 and 1,534.66 throughout the trading session.
The index opened 0.16 of-a-point higher at 1,531.38 from Friday’s close of 1,531.22.
Decliners led gainers at 656 to 361, while 415 counters were unchanged, 882 untraded and 21 others suspended.
Turnover rose to 3.48 billion shares worth RM2.33 billion from last Friday’s 3.11 billion units valued at RM2.62 billion.Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the market sentiment remained cautious as FBM KLCI trended in tight consolidation mode, however, it managed to close above the 1,520 support level.
“Approaching the year-end, we may see some window-dressing activities.
“Furthermore, we believe some bargain-hunting activities will emerge as valuations on the local market remains attractive and we see the benchmark index [moving] between 1,525-1,540 for the week,” he told Bernama.
Thong said from a technical point of view, the immediate support is unchanged at 1,520, followed by the psychological support at 1,500 and resistance at 1,565.
Among the heavyweights, Malayan Banking Bhd and Public Bank Bhd were one sen lower at RM8.10 and RM4.01 respectively, Petronas Chemicals Group Bhd fell two sen to RM8.29 while IHH Healthcare Bhd gained five sen to RM6.48.
Of the actives, MMAG Holdings Bhd increased half-a-sen to 10 sen, Dagang NeXchange Bhd bagged 1.5 sen to 85.5 sen while AirAsia X Bhd was flat at 7.5 sen.
On the index board, the FBM Emas Index lost 57.1 points to 11,271.75, the FBMT 100 Index narrowed 61.53 points to 10,905.78, and the FBM Emas Shariah Index went down 63.15 points to 12,276.87.
The FBM 70 dropped 75.93 points to 14,926.61 and the FBM ACE fell 3.12 points to 6,974.87.
Sector-wise, the Industrial Products and Services Index inched down 1.73 points to 199.94, the Plantation Index contracted 117.3 points to 6,555.64, and the Financial Services Index shrank 49.91 points to 15,155.8.
The Main Market volume increased to 2.24 billion shares worth RM1.95 billion, from 2.04 billion shares worth RM2.22 billion last Friday.
Warrants turnover improved to 299.05 million units worth RM55.96 million, versus 251.82 million units worth RM55.26 million previously.
Volume on the ACE Market expanded to 936.12 million shares valued at RM322.13 million, from Friday’s 810.81 million shares valued at RM338.01 million.
Consumer products and services counters accounted for 361.76 million shares traded on the Main Market, industrial products and services (735.96 million), construction (75.69 million), technology (358.89 million), SPAC (nil), financial services (45.8 million), property (139.54 million), plantation (11.95 million), REITs (7.39 million), closed/fund (20,000), energy (147.91 million), healthcare (74.78 million), telecommunications and media (21.26 million), transportation and logistics (249.62 million), and utilities (9.61 million).
Source: The Edge
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