KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers. At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79. The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session. Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended. Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by t...
KUALA LUMPUR (Jan 26): Bursa Malaysia ended on a higher note on Wednesday (Jan 26) on bargain hunting in most sectors except plantation, ahead of the US Federal Reserve's decision on its monetary policy stance, said an analyst.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.45% or 6.85 points to 1,515.76 from 1,508.91 at Tuesday's close.
The benchmark index, which opened marginally lower at 0.13 of-a-point at 1,508.78 — its intraday low, rose to a high of 1,520.15 during the morning session.
The overall market breadth was positive with gainers overwhelming losers 618 to 254, while 407 counters were unchanged, 1,001 untraded, and 30 others suspended.
Total turnover declined to 2.36 billion units worth RM1.84 billion versus Tuesday’s 2.8 billion units valued at RM2.14 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional markets also performed better despite negative cues from Wall Street overnight as traders continued to pick up stocks at bargain prices after the recent sell-offs.
On the domestic front, he expected bargain hunting to continue given the cheap valuations of stocks, continuous inflow of foreign investors, and improving macroeconomic situation in the country.
“However, we reckon that the direction of the local market is still very much dependent on regional volatility.
“As such, we expect the key index to move within the 1,510-1,530 range for the remainder of the week, with immediate resistance at 1,530 and support at 1,500,” he told Bernama.
Of the heavyweights, Malayan Banking Bhd added seven sen to RM8.30, Public Bank Bhd and Petronas Chemicals Group Bhd gained two sen each to RM4.20 and RM8.92 respectively, IHH Healthcare Bhd rose three sen to RM6.36, and CIMB Group Holdings Bhd perked up one sen to RM5.26.
As for the actives, Dagang NeXchange Bhd widened 8.5 sen to 94.5 sen, Coraza Integrated Technology Bhd added nine sen to 90 sen, SMTrack Bhd eased one sen to 18 sen, and Senheng New Retail Bhd rose 5.5 sen to 91 sen.
On the index board, the FBM ACE surged 113.01 points to 6,084.01, the FBM 70 expanded 102.25 points to 13,433.27, the FBM Emas Index added 64.79 points to 10,888.12, the FBMT 100 Index rose 55.24 points to 10,596.83, and the FBM Emas Shariah Index increased 69.4 points to 11,570.19.
Sector-wise, the Financial Services Index climbed 85.98 points to 15,746.89, the Industrial Products and Services Index improved 1.67 points at 200.29, while the Plantation Index fell 33.33 points to 6,597.98.
The Main Market volume decreased to 1.35 billion shares valued at RM1.54 billion versus Tuesday’s 1.7 billion shares worth RM1.85 billion.
Warrants turnover was marginally higher at 368.75 million units worth RM34.8 million from 368.65 million units valued at RM42.9 million on Tuesday.
The ACE Market volume dwindled to 638.41 million shares valued at RM261.51 million against 731.74 million shares valued at RM249.12 million on Tuesday.
Consumer products and services counters accounted for 263.7 million shares traded on the Main Market, industrial products and services (358.83 million), construction (34.96 million), technology (337.6 million), SPAC (nil), financial services (49.43 million), property (99.58 million), plantation (9.67 million), REITs (3.66 million), closed/fund (nil), energy (83.31 million), healthcare (50.14 million), telecommunications and media (20.48 million), transportation and logistics (30.47 million), and utilities (9.5 million).
Source: The Edge
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