KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Nov 11): Bursa Malaysia ended broadly higher on the last day of the week, lifted by a strong recovery in global equities and the newly released positive economic data for the third quarter of 2022 (3Q2022), said a dealer.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) strengthened 1.27%, or 18.47 points, to 1,468.21 from Thursday's close of 1,449.74.
The market bellwether, which opened 17.45 points better at 1,467.19, moved between 1,459.54 and 1,468.21 throughout the day.
On the broader market, gainers trounced decliners 667 to 275, while
401 counters were unchanged, 999 untraded, and 30 others suspended.
Turnover eased to 3.43 billion units valued at RM2.42 billion versus 3.47 billion units worth RM1.45 billion on Thursday.
Bank Negara Malaysia on Friday (Nov 11) revealed that Malaysia's economy grew by 14.2% in 3Q2022 supported by continued expansion in domestic demand, firm recovery in the labour market, robust electrical and electronics (E&E) as well as non-E&E exports, and ongoing policy support.
Regionally, key indices rose tremendously following the positive performance on Wall Street overnight, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng.
"Moderations in the data fuelled bets that the Federal Reserve may ease the pace of its monetary tightening campaign, with investors shrugging off chair Jerome Powell's assertion earlier this month that a policy shift is not imminent and China’s policies to support the property sector," he told Bernama.
Meanwhile, Bursa Malaysia heavyweights Malayan Banking Bhd (Maybank) lost four sen to RM8.60, Public Bank Bhd lifted two sen to RM4.45, Petronas Chemicals Group Bhd gained nine sen to RM8.73, CIMB Group Holdings Bhd added four sen to RM5.52, and IHH Healthcare Bhd rose three sen to RM6.
Among the actives, Advance Synergy Bhd improved half-a-sen to 13.5 sen, Top Glove Corp Bhd climbed 7.5 sen to 96 sen, Careplus Group Bhd went up 2.5 sen to 51.5 sen, and Supermax Corp Bhd shed one sen to 94 sen.
On the index board, the FBM Emas Index perked up 145.89 points to 10,416.9, the FBMT 100 Index rose 143.06 points to 10,151.59, the FBM ACE garnered 109.52 points to 5,093.31, the FBM Emas Shariah Index jumped 205.69 points to 10,529.58, and the FBM 70 increased 235.98 points to 12,372.02.
Sector-wise, the Financial Services Index added 26.41 points to 16,353.23, the Healthcare Index improved 26.31 points to 1,730.45, and the Industrial Products, and Services Index climbed 4.63 points to 179.4.
The Plantation Index bagged 71.35 points to 6,902.73, and the Energy Index advanced 13.76 points to 724.32.
The Main Market volume widened to 2.09 billion shares worth RM2.05 billion from 2.08 billion shares worth RM1.25 billion on Thursday.
Warrant turnover surged to 562.32 million units valued at RM111.49 million from 279.45 million units valued at RM48.9 million.
The ACE Market shrank to 780.17 million shares worth RM262.79 million from 1.11 billion shares worth RM144.66 million previously.
Consumer products and services counters accounted for 432.72 million shares traded on the Main Market, industrial products and services (471.18 million), construction (64.56 million), technology (237.46 million), SPAC (nil), financial services (66.16 million), property (165.21 million), plantation (23.49 million), REITs (8.72 million), closed/fund (34,100), energy (178.69 million), healthcare (361.55 million), telecommunications and media (30.37 million), transportation and logistics (41.31 million), and utilities (11.38 million).
Source: The Edge
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