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 18): Bursa Malaysia rallied to close broadly higher on Tuesday (Oct 18), amid strong buying interest mainly in plantation and telecommunications company (telco) stocks, with the benchmark index settling above the 1,400-point mark.
At 5pm, the FBM KLCI had surged 14.09 points or 1.02% to finish at 1,400.36, from Monday's close at 1,386.27.
The barometer index opened 6.65 points higher at 1,392.92, and moved between 1,389.16 and 1,400.39.
On the broader market, gainers led decliners 566 to 272, while 368 counters were unchanged, 1,144 untraded and seven others suspended.
Turnover widened to 2.40 billion units worth RM1.71 billion, against Monday's 1.98 billion units worth RM1.49 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng was cautiously optimistic about the near term, given the improving global market sentiment.
"We expect investors to continue to bargain-hunt for stocks, due to attractive valuations, following heavy selldowns over the past two weeks. We anticipate the KLCI to trend within the range of 1,390-1,410 for the remainder of the week, with immediate resistance at 1,430 and support at 1,370,” he said.
Axiata Group Bhd surged 23 sen to RM2.64, IOI Corp Bhd soared 26 sen to RM3.95, and Digi.Com Bhd jumped 17 sen to RM3.44. The three counters contributed to a rise of 8.54 points in the benchmark index.
Among the heavyweights, Petronas Chemicals Group Bhd advanced five sen to RM8.55, IHH Healthcare Bhd chalked up 11 sen to RM5.97, Public Bank Bhd was flat at RM4.20, Malayan Banking Bhd (Maybank) shed one sen to RM8.51, and CIMB Group Holdings Bhd gave up five sen to RM5.25.
Of the actives, Careplus Group Bhd gained one sen to 42.5 sen, Hong Seng Consolidated Bhd improved by five sen to 27 sen, NWP Holdings Bhd edged up half a sen to 23.5 sen, Top Glove Corp Bhd was flat at 74 sen, and Citaglobal Bhd eased one sen to 26.5 sen.
On the index board, the FBM Emas Index bolstered 110.84 points to 9,974.90, the FBM 70 strengthened 173.61 points to 12,006.15, and the FBMT 100 Index shot up 107.92 points to 9,721.75.
The FBM Emas Shariah Index bagged 181.64 points to 10,034.78, and the FBM ACE climbed 71.40 points to 4,753.17.
Sector-wise, the Financial Services Index fell 22.57 points to 15,893.33, the Industrial Products and Services Index grew 1.31 point to 170.86, the Plantation Index soared 211.21 points to 6,616.67, and the Energy Index gained 5.73 points to 670.77.
The Main Market volume rose to 1.47 billion shares worth RM1.40 billion, from 1.16 billion shares worth RM1.22 billion on Monday.
Warrant turnover appreciated to 300.37 million units valued at RM47.67 million, against 269.20 million units valued at RM44.36 million.
The ACE Market volume expanded to 633.53 million shares worth RM260.03 million, from 546.11 million shares worth RM219.47 million previously.
Consumer product and service counters accounted for 224.43 million shares traded on the Main Market, followed by industrial products and services (398.64 million), construction (50.92 million), technology (215.34 million), special purpose acquisition companies (nil), financial services (50.21 million), property (69.52 million), plantation (18.76 million), real estate investment trusts (10.59 million), closed/funds (14,900), energy (82.26 million), healthcare (273.37 million), telecommunications and media (31.12 million), transportation and logistics (29.78 million), and utilities (15.50 million).
Source: The Edge
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