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.
KUALA LUMPUR (Dec 21): Bursa Malaysia ended slightly lower on Tuesday (Dec 21) on continued selling in selected heavyweights led by Top Glove Corp Bhd and Press Metal Aluminium Holdings Bhd, despite the upbeat performance in regional markets.
The two counters contributed a combined 1.44 points to the decline in the barometer index, dealers said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) shed 1.31 points or 0.09% to end at 1,492.59 compared with 1,493.9 at Monday’s close.
The index opened 1.1 points weaker at 1,492.8 and fluctuated between 1,490.01 and 1,496.24 throughout the day.On the broader market, losers thumped gainers 450 to 354, while 432 counters were unchanged, 1,064 untraded, and 16 others suspended.
Turnover eased to 2.45 billion units valued at RM1.67 billion from Monday’s 2.47 billion units worth RM1.73 billion.
A dealer said that regionally, most Asian bourses were higher due to bargain hunting following the recent market weakness.
However, he said investors remained concerned over the pace of economic recovery from the pandemic amid fears of fresh disruptions across supply chains globally following tighter restrictions in Europe.
Japan's Nikkei 225 rose 2.08% to 28,517.59, Hong Kong’s Hang Seng Index gained 1% to 22,971.33, Singapore’s Straits Times Index climbed 0.4% to 3,085.18, and South Korea’s Kospi added 0.41% to 2,975.03.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that on the home front, the FBM KLCI remained in negative territory as selling pressure continued amid fears of Omicron variant while investors were wary of heavy losses incurred by businesses due to the recent flooding.
“Key regional markets trended mostly higher as China/Hong Kong markets cheered Beijing's move to help troubled property firms. As for Japanese stock market, investors are looking to pick up stocks at a bargain following the recent weakness.
“On the domestic front, investors remain cautious due to lack of buying interest amid the heightened market volatility across the region. We believe the benchmark index will remain in consolidation mode although bargain hunting and window dressing activities may emerge as well,” he told Bernama on Tuesday.
As such, he said the FBM KLCI is expected to remain range-bound at around the 1,485-1,500 range for the remaining of the week, with immediate resistance at 1,500 and support at 1,475.
Among the heavyweights, Malayan Banking Bhd rose three sen to RM8.14, Public Bank Bhd and Petronas Chemicals Group Bhd improved one sen each to RM4.08 and RM8.79, respectively, CIMB Group Holdings Bhd increased four sen to RM5.33, while IHH Healthcare Bhd was flat at RM6.53.
Of the actives, Main Market debutant Swift Haulage Bhd declined seven sen to 96 sen, while Lambo Group Bhd, DGB Asia Bhd and Saudee Group Bhd were all flat at 4.5 sen, three sen and six sen, respectively.
On the index board, the FBM Emas Index was 4.61 points lower at 10,835.42, the FBMT 100 Index fell 3.87 points to 10,543.48, and the FBM Emas Shariah Index decreased 25.69 points to 11,613.44.
The FBM 70 rose 18.4 points to 13,840.86 but the FBM ACE erased 34.15 points to 6,172.75.
Sector-wise, the Financial Services Index gained 44.02 points to 15,288.06, the Industrial Products and Services Index trimmed 0.27 of-a-point to 194.26, and the Plantation Index perked up 22.43 points to 6,374.73.
The Main Market volume rose to 1.53 billion shares valued at RM1.45 billion versus Monday’s 1.43 billion shares valued at RM1.48 billion.
Warrants turnover decreased to 157.22 million units worth RM263.02 million against 225.17 million units worth RM30.94 million on Monday.
The ACE Market volume shrank to 762.83 million shares valued at RM189.78 million from 814.31 million shares valued at RM209.94 million previously.
Consumer products and services counters accounted for 281.84 million shares traded on the Main Market, industrial products and services (441.86 million), construction (38.69 million), technology (179.73 million), SPAC (nil), financial services (49.91 million), property (95.22 million), plantation (11 million), REITs (5.06 million), closed/fund (356,000), energy (113.18 million), healthcare (61.39 million), telecommunications and media (55.78 million), transportation and logistics (177.93 million), and utilities (18.74 million).
Source: The Edge
Comments
Post a Comment