Market Daily Report: Bursa Malaysia ends higher tracking regional peers, Wall Street

 

KUALA LUMPUR (Dec 28): Bursa Malaysia gained 0.39% at the close on Tuesday (Dec 28) in tandem with regional markets and overnight Wall Street performance.

As at 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.98 points to end at 1,539.89 compared with 1,533.91 recorded at Monday's close.

The index opened 2.07 points higher at 1,535.98 and moved between 1,535.86 and 1,542.2 throughout the day.

On the broader market, gainers outpaced losers 591 to 304, while 431 counters were unchanged, 984 untraded, and 14 others suspended.

Turnover slipped to 2.16 billion units valued at RM1.65 billion from Monday’s 2.21 billion units valued at RM1.36 billion.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said risk-taking mode has prevailed, as demonstrated by the bullish performance of key equity indices.

“Perhaps, the FBM KLCI could end the week on a better footing,” he told Bernama.

He also highlighted that from the technical point of view, the market bellwether had surpassed the immediate resistance level of 1,533.82 points, and has now established a new resistance level located at around 1,564.8 points.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key index closed higher, supported by foreign buying as well as buying in glove, plantation and gaming stocks.

“We believe buying interest will remain in blue chips, hence the index [is expected] to hover within the 1,530-1,550 range for the remainder of the week. Technically, the immediate resistance is unchanged at 1,550 and support at 1,510,” he said.

Regionally, Singapore’s Straits Times Index rose 0.78% to 3,128.41, Japan's Nikkei 225 jumped 1.37% to 29,069.16, Hong Kong’s Hang Seng Index gained 0.24% to 23,280.56, and South Korea’s Kospi climbed 0.69% to 3,020.24.

Among the heavyweights, Malayan Banking Bhd was flat at RM8.30, Public Bank Bhd, Petronas Chemicals Group Bhd and CIMB Group Holdings Bhd added three sen each to RM4.18, RM8.88 and RM5.42, respectively, while IHH Healthcare Bhd jumped 10 sen to RM6.76. 

Of the actives, SMTrack Bhd perked up half-a-sen to 14.5 sen, XOX Bhd and AT Systematization Bhd were both flat at three sen and 3.5 sen, respectively, while ATA IMS Bhd lost four sen at 61.5 sen.

Meanwhile, Careplus Group Bhd will be transferred to the Main Board of Bursa Malaysia from the ACE Market, effective Dec 31, 2021.

On the index board, the FBM Emas Index was 61.81 points higher at 11,163.72, the FBMT 100 Index climbed 55.09 points to 10,864.3, and the FBM Emas Shariah Index increased 70.64 points to 12,012.3.

The FBM 70 surged 127.83 points to 14,204.01 while the FBM ACE put on 45.56 points to 6,323.49.

Sector-wise, the Financial Services Index perked up 57.43 points to 15,572.49, the Industrial Products and Services Index edged up 1.72 points to 201.03, and the Plantation Index added 30.27 points to 6,577.45. 

The Main Market volume expanded to 1.26 billion shares valued at RM1.43 billion versus Monday's 1.23 billion shares valued at RM1.16 billion.

Warrants turnover increased to 163.11 million units worth RM25.54 million compared with 145.92 million units worth RM9.48 million on Monday.

The ACE Market volume fell to 733.75 million shares valued at RM195.11 million from 825.87 million shares valued at RM187.64 million previously.

Consumer products and services counters accounted for 195.36 million shares traded on the Main Market, industrial products and services (543.18 million), construction (39.35 million), technology (167.63 million), SPAC (nil), financial services (37.35 million), property (57.4 million), plantation (8.6 million), REITs (4.88 million), closed/fund (3,000), energy (93.42 million), healthcare (51.58 million), telecommunications and media (22.44 million), transportation and logistics (22.56 million), and utilities (13.93 million).

 

Source: The Edge