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 (March 7): Bursa Malaysia rebounded on Tuesday (March 7) to end higher after the key index recorded two straight days of meagre losses as bargain-hunting activities emerged, amid the upbeat performance in most regional peers.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.99 points or 0.41% to 1,458.67 from Monday’s closing of 1,452.68.
The market bellwether opened 1.29 points better at 1,453.97 and moved between 1,452.64 and 1,461.42 throughout the trading session.
However, on the broader market, decliners beat gainers 454 to 409, while 408 counters were unchanged, 959 untraded and 11 others suspended.
Turnover rose to 2.97 billion units worth RM1.89 billion from Monday's close of 2.84 billion units worth RM1.79 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional indices were mostly in positive territory as investors took positions ahead of the US Federal Reserve Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, which will inform of the central bank’s next moves on its rate hiking decision.
“On the domestic front, we expect investor sentiment to remain cautious ahead of Bank Negara Malaysia's Monetary Policy Committee meeting over the next two days.
“Hence we anticipate the FBM KLCI to remain in sideways pattern within the range of 1,450 to 1,470 for the remainder of the week, with immediate resistance at 1,490 and support at 1,440,” he told Bernama.
Region-wise, Singapore's Straits Times Index climbed 0.18% to 3,245.27, Japan’s Nikkei 225 rose 0.25% to 28,309.16, while South Korea’s Kospi inched up 0.03% to 2,463.35.
However, China’s SSE Composite Index fell 1.11% to 3,285.1 and Hong Kong's Hang Seng Index shed 0.33% to 20,534.48.
At home, heavyweights, Sime Darby Plantation Bhd gained 21 sen to RM4.51, Press Metal Aluminium Holdings Bhd perked up six sen to RM5.21, Public Bank Bhd increased three sen to RM4.13, IOI Corp Bhd improved eight sen to RM3.98, and Dialog Group Bhd put on nine sen to RM2.40.
Of the actives, Hong Seng Consolidated Bhd added half-a-sen to 14.5 sen, Capital A Bhd rose three sen to 77 sen, SMTrack Bhd was flat at 4.5 sen, and Bumi Armada Bhd was unchanged at 70 sen, while Minda Global Bhd eased half a sen to 12.5 sen.
On the index board, the FBM Emas Index garnered 32.39 points to 10,631.36, the FBMT 100 Index advanced 31.01 points to 10,306.85, the FBM Emas Shariah Index perked up 46.01 points to 10,899.47, and FBM ACE Index expanded 9.21 points to 5486.49.
Conversely, the FBM 70 Index slipped 8.08 points to 13,498.95.
Sector-wise, the Financial Services Index rose 10.32 points to 16,116.28, the Plantation Index jumped 130.82 points to 7,010.00, the Energy Index increased 5.37 points to 895.32, while the Industrial Products and Services Index eased 0.34 of a point to 177.81.
The Main Market volume declined to 1.83 billion shares worth RM1.56 billion, from Monday's 1.98 billion shares worth RM1.47 billion.
Warrant turnover ballooned to 504.87 million units worth RM90.59 million, from 263.17 million units worth RM44.89 million previously.
The ACE Market volume swelled to 635.19 million shares worth RM245.41 million, from 595.74 million shares worth RM268.61 million.
Consumer product and service counters accounted for 372.63 million shares traded on the Main Market, followed by industrial products and services (476.38 million), construction (61.84 million), technology (194.36 million), special purpose acquisition companies (nil), financial services (50.22 million), property (146.77 million), plantation (30.91 million), real estate investment trusts (8.28 million), closed/funds (7,800), energy (201.69 million), healthcare (159.31 million), telecommunications and media (41.97 million), transportation and logistics (57.08 million), and utilities (25.51 million).
Source: The Edge
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