Market Daily Report: Bursa ends marginally higher in line with regional peers

KUALA LUMPUR (Sept 12): Bursa Malaysia ended marginally higher on Monday (Sept 12), in line with the strong performance of regional bourses as investors’ sentiments continued to improve across the region, an analyst said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.43 points to 1,497.96 compared with Friday's close of 1,496.53.

The benchmark index opened 1.13 points firmer at 1,497.66 and moved between 1,496.05 and 1,501.87 throughout the day.

On the broader market, gainers led decliners 444 to 347, while 410 counters were unchanged, 1,114 untraded and nine others suspended.

Total turnover rose to 2.63 billion units worth RM1.55 billion from 2.36 billion units worth RM1.48 billion on Friday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed higher following the broadly positive cues from global markets on Friday.

"Investors took the opportunity to pick up stocks that had taken a severe beating in recent sessions," he told Bernama.

Singapore's Straits Times Index rose 0.44% to 3,277.23, while Japan's Nikkei widened 1.16% to 28,542.11.  

Back home, the FBM KLCI faced strong resistance as it has failed to breach the 1,500 mark in several attempts, Thong said.

Nonetheless, overall market sentiment is improving, and Thong anticipates the benchmark index to trend within the range of 1,490 to 1,510 for the week.

Meanwhile, Bursa heavyweights Malayan Banking Bhd (Maybank) added two sen to RM8.99, Public Bank Bhd climbed one sen to RM4.70, CIMB Group Holdings Bhd gained three sen to RM5.47, and IHH Healthcare Bhd firmed four sen to RM6.21, while Petronas Chemicals Group Bhd declined five sen to RM8.89.

Of the actives, CSH Alliance Bhd edged up half-a-sen to 4.5 sen, SNS Network Technology Bhd widened two sen to 28 sen, Velesto Energy Bhd gained 1.5 sen to 10 sen, and Top Glove Corp Bhd perked up 2.5 sen to 82 sen, while Metronic Global Bhd fell half-a-sen to three sen.

On the index board, the FBM Emas Index appreciated 27.37 points to 10,655.59, the FBMT 100 Index was stronger by 24.15 points to 10,399.6, and the FBM ACE expanded 35.71 points to 4,894.19.

The FBM 70 climbed 87.15 points to 12,843.97 and the FBM Emas Shariah Index pushed up 29.47 points to 10,722.95.

Sector-wise, the Energy Index gained 9.3 points to 716.46 and the Financial Services Index was higher by 68.64 points to 16,885.82.

The Plantation Index was 16.55 points weaker at 6,977.42 while the Industrial Products and Services Index fell 0.42 of-a-point to 185.18 and the Telecommunications and Media Index shaved 0.35 of-a-point to 592.51.

The Main Market volume grew to 1.79 billion shares worth RM1.18 billion from 1.56 billion shares worth RM1.14 billion on Friday.

Warrants turnover contracted to 70.67 million units valued at RM7.85 million from 285.34 million units valued at RM48.2 million previously.

The ACE Market volume expanded to 761.86 million shares worth RM362.57 million from 515.45 million shares worth RM291.44 million.

Consumer products and services counters accounted for 159.63 million shares traded on the Main Market, industrial products and services (808.98 million), construction (53.23 million), technology (174.89 million), SPAC (nil), financial services (38.64 million), property (171.21 million), plantation (16.7 million), REITs (3.96 million), closed/fund (nil), energy (199.09 million), healthcare (109.8 million), telecommunications and media (15.42 million), transportation and logistics (32.31 million), and utilities (7.67 million).

Source: The Edge