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 26): Continuous buying spree in heavyweights mainly in the healthcare, plantation, and telecommunications sectors boosted Bursa Malaysia to end in the positive zone on Wednesday (Oct 26) after a marginal decline on Tuesday.
An analyst attributed the rise in trading to a pre-election rally.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 10.57 points to end at its intraday high of 1,454.98 compared with Tuesday's close of 1,444.41.
The barometer index opened 3.16 points higher at 1,447.57.
The broader market was also positive with gainers trouncing losers 519 to 354, while 376 counters were unchanged, 1,115 untraded, and 11 others suspended.
Turnover increased to 2.61 billion units valued at RM1.80 billion versus 2.26 billion units valued at RM1.76 billion on Tuesday.
Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng told Bernama that Wednesday's interest was also inspired by the positive Wall Street performance overnight, as investors were upbeat over falling treasury yields.
US Treasury bond yields fell amid the ongoing narrative in the markets that the US Federal Reserve might slow the pace of its rate hikes.
Looking at the improved sentiment currently, he believed the FBM KLCI could trade as high as the 1,470 level for the remainder of the week.
Heavyweights Kuala Lumpur Kepong Bhd soared 94 sen to RM22.42, while Digi.Com Bhd jumped 13 sen to RM3.75, and IOI Corp Bhd rose 13 sen to RM4.04.
Maxis Bhd gained 12 sen to RM3.69, and Tenaga Nasional Bhd increased 12 sen to RM8.37, while Hartalega Holdings Bhd surged 22 sen to RM2.07, and Axiata Group Bhd added seven sen to RM2.81.
Newly listed Betamek Bhd topped the most active list, jumping 21 sen to close at 71 sen, followed by Serba Dinamik Holdings Bhd, which remained flat at two sen. Top Glove Corp Bhd was up four sen to 75.5 sen, Sapura Energy Bhd eased half-a-sen to four sen, and Careplus Group Bhd climbed five sen to 44.5 sen.
On the index board, the FBM Emas Index rose 69.15 points to 10,297.54, the FBM 70 climbed 68.91 points to 12,176.3, and the FBMT 100 Index increased 69.21 points to 10,044.03.
The FBM Emas Shariah Index shot up 113.99 points to 10,326.11, while the FBM ACE expanded 38.44 points to 4,869.04.
Sector-wise, the Financial Services Index slipped 12.39 points to 16,492.78, the Energy Index edged up 5.28 points to 683.64, the Industrial Products and Services Index lost 0.13 of-a-point to 174.96, and the Plantation Index surged 149.41 points to 6,941.49.
The Main Market volume rose 1.50 billion shares worth RM1.35 billion from 1.25 billion shares worth RM1.49 billion on Tuesday.
Warrants turnover dwindled to 351.83 million units worth RM54.23 million from 431.82 million units worth RM71.87 million.
The ACE Market volume swelled to 796.21 million shares worth RM392.44 million from 575.24 million shares worth RM200.29 million previously.
Consumer products and services counters accounted for 197.28 million shares traded on the Main Market, industrial products and services (326.74 million), construction (36.35 million), technology (154.52 million), SPAC (nil), financial services (52.82 million), property (107.77 million), plantation (30.27 million), REITs (3.82 million), closed/fund (5,700), energy (211.85 million), healthcare (274.26 million), telecommunications and media (27.54 million), transportation and logistics (23.69 million), and utilities (12.76 million).
Source: The Edge
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