KUALA LUMPUR, Jan 7 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) recovered from yesterday’s losses to close higher Tuesday, driven by bargain-hunting amidst the positive momentum on Wall Street overnight and most regional markets. At 5 pm, the market bellwether increased 4.32 points or 0.26 per cent to 1,629.79 compared with Monday’s close of 1,625.47. The index opened 0.97 of-a-point lower at 1,624.50 and moved between 1,624.50 and 1,634.27 throughout the day. However, the broader market was negative with losers outpacing gainers 614 to 490, while 537 counters were unchanged, 712 untraded and 10 others suspended. Turnover improved to 3.91 billion units valued at RM3.29 billion against Monday’s 3.47 billion units valued at RM2.66 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said optimism in the...
KUALA LUMPUR (Oct 27): Bursa Malaysia gave up earlier gains to slip marginally lower on Thursday (Oct 27), as the key index struggled to stay in the green for most of the trading session, amid a mixed performance in regional markets.
At 5pm, the FBM KLCI had trimmed 0.89 of a point to 1,454.09, due to mild selling of heavyweights, particularly financial services and plantation counters, compared with Wednesday's close at 1,454.98.
The key index opened 2.98 points higher at 1,457.96, and fluctuated between 1,452.28 and 1,459.86 throughout the day.
However, the broader market remained positive, with gainers surpassing losers 505 to 325, while 395 counters were unchanged, 1,136 untraded, and 24 others suspended.
Turnover decreased to 2.53 billion units valued at RM1.87 billion, versus 2.61 billion units valued at RM1.80 billion on Wednesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the mixed regional and overnight Wall Street performance as well as caution over the European Central Bank's (ECB) interest rate path had put investors in cautious mode.
The markets expect the ECB to raise its interest rate to a 13-year high, he said.
"Amid this stance, local market investors seem to continue seeking refuge in the energy, property, and construction sectors," Thong said, adding there was also strong support from local institutions for selected stocks.
"We anticipate the KLCI to trend within a wider range of 1,440 to 1,470 points,’’ he told Bernama.
Among the heavyweights, Tenaga Nasional Bhd (TNB) dipped eight sen to RM8.29, Axiata Group Bhd eased five sen to RM2.76, Sime Darby Plantation Bhd fell six sen to RM4.44, and Kuala Lumpur Kepong Bhd (KLK) was 22 sen weaker at RM22.20.
On the other hand, Maxis Bhd went up 11 sen to RM3.80, Dialog Group Bhd was 10 sen higher at RM2.01, CIMB Group Holdings Bhd rose five sen to RM5.60, and Top Glove Corp Bhd added two sen to 77.5 sen.
Newly-listed Betamek Bhd, which topped the most active list, declined 13 sen to 58 sen. Careplus Group Bhd was flat at 44.5 sen, Velesto Energy Bhd increased by one sen to 12.5 sen, and UEM Sunrise Bhd perked up 1.5 sen to 21 sen.
On the index board, the FBM Emas Index rose 16.03 points to 10,313.57, the FBM 70 gained 74.86 points to 12,251.16, and the FBMT 100 Index increased 9.56 points to 10,053.59.
The FBM Emas Shariah Index went up 20.62 points to 10,346.73, while the FBM ACE decreased 5.85 points to 4,863.19.
Sector-wise, the Financial Services Index climbed 12.87 points to 16,479.91 and the Energy Index edged up 18.03 points to 701.67, while the Industrial Products and Services Index improved 0.41 of a point to 175.37, and the Plantation Index lost 22.44 points to 6,919.05.
The Main Market volume rose to 1.57 billion shares worth RM1.51 billion, from 1.50 billion shares worth RM1.35 billion on Wednesday.
Warrant turnover dwindled to 252.22 million units worth RM47.07 million, from 351.83 million units worth RM54.23 million a day ago.
The ACE Market volume declined to 722.08 million shares worth RM317.14 million, from 796.21 million shares worth RM392.44 million previously.
Consumer product and service counters accounted for 167.63 million shares traded on the Main Market, followed by industrial products and services (359.04 million), construction (63.17 million), technology (130.98 million), special purpose acquisition companies (nil), financial services (63.45 million), property (170.27 million), plantation (33.25 million), real estate investment trusts (8.74 million), closed/funds (nil), energy (240.14 million), healthcare (245.16 million), telecommunications and media (31.47 million), transportation and logistics (29.71 million), and utilities (13.40 million).
Source: The Edge
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