KUALA LUMPUR, April 16 (Bernama) -- Bursa Malaysia ended lower today, weighed down by persistent profit-taking amid ongoing concerns over global trade tariffs. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 9.51 points, or 0.64 per cent, to 1,476.92 compared to Tuesday’s close of 1,486.43. The benchmark index opened 0.02 of-a-point higher to 1,486.45 and moved between 1,472.84 and 1,487.50 throughout the day. In the broader market, decliners outpaced gainers 573 to 320, while 434 counters were unchanged, 1,071 untraded, and nine others suspended. Turnover slipped to 3.00 billion units valued at RM1.65 billion from 3.36 billion units valued at RM1.91 billion on Tuesday.
KUALA LUMPUR (July 11): Bursa Malaysia ended at its intraday high on Tuesday (July 11), in sync with the upbeat performance on regional bourses as market sentiment turned positive, fuelling investors' risk appetite.
At 5pm, the FBM KLCI had gained 8.40 points, or 0.61%, to 1,391.46, from 1,383.06 at Monday’s close.
The barometer index opened 3.03 points higher at 1,386.09 on Tuesday morning, and hit an intraday low of 1,384.84 in the mid-afternoon session.
The
broader market was also positive, as gainers surpassed losers 471 to
368, while 418 counters were unchanged, 993 untraded, and 16 others
suspended.
Turnover increased to 2.83 billion units worth RM1.86 billion, versus 2.24 billion units worth RM1.51 billion on Monday.
SPI Asset Management managing director Stephen Innes said the KLCI ended higher as sentiment was boosted after authorities in China extended support for property developers in the republic.
He said local investors, however, were still a tad cautious ahead of the US consumer price index on Wednesday.
"Given the US Federal Reserve's (Fed) lack of evidence that core inflation is on a downtrend and the main reason Fed officials want at least two more rate hikes, then if we get a sticky core inflation print, that could be perceived as negative for global risk since it would drive US yields higher.
"On a sectoral basis, it very much looks like all areas are in wait-and-watch mode," he told Bernama.
Among the heavyweights, Malayan Banking Bhd (Maybank) increased seven sen to RM8.74 a share, Public Bank Bhd inched up one sen to RM3.87, IHH Healthcare Bhd perked six sen to RM5.88, while CIMB Group Holdings Bhd at RM5.21 and Tenaga Nasional Bhd at RM9.05 had gone up two sen each.
Of the actives, EP Manufacturing Bhd surged 27 sen to 98 sen, Widad Group Bhd put on half a sen to 42 sen, Sarawak Consolidated Industries Bhd ticked up 2.5 sen to 48.5 sen, while BSL Corp Bhd at four sen and Jade Marvel Group Bhd at 22 sen were both flat.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the KLCI continued its upwards trajectory as market sentiment continued to improve across the region.
He said that regionally, the key indices closed mostly higher, following a positive cue from global equities overnight.
"Meanwhile, investors were thrilled by the proactive measures taken by China's regulators to exert pressure on financial institutions, urging them to facilitate more favourable terms for property companies.
"This encouragement includes promoting negotiations to extend outstanding loans, providing a positive outlook for investors," he said.
On the other hand, Thong said the US Fed officials stated that the central bank will need to continue with its tightening measures throughout the year in order to effectively bring inflation back down to the targeted 2% goal, hence he advised investors to stay cautious.
"Despite the strong backing of local institutions, the prevailing cautious sentiment suggests that the benchmark index is expected to remain range-bound for the foreseeable future. Hence, we anticipate the KLCI to trend within the 1,380-1,395 range for the rest of the week," he added.
On the index board, the FBM Emas Index was 57.90 points firmer at 10,256.55, the FBMT 100 Index bagged 56.20 points to 9,948.90, the FBM Emas Shariah Index was 67.16 points better at 10,544.36, the FBM 70 Index advanced 60.20 points to 13,523.83, and the FBM ACE Index rose 61.09 points to 5,219.53.
Sector-wise, the Financial Services Index added 64.53 points to 15,466.88, the Industrial Products and Services Index inched up 0.17 of a point to 159.05, the Energy Index slid 4.22 points to 802.22, and the Plantation Index climbed 73.73 points to 6,901.43.
The Main Market volume increased to 2.01 billion units valued at RM1.60 billion, from 1.61 billion units valued at RM1.31 billion on Monday.
Warrant turnover expanded to 311.74 million units worth RM48 million, against 240.71 million units worth RM36.50 million.
The ACE Market volume swelled to 504.39 million shares valued at RM213.07 million, from 381.81 million shares valued at RM159.22 million previously.
Consumer products and services counters accounted for 275.91 million shares traded on the Main Market, followed by industrial products and services (820.21 million), construction (113.19 million), technology (192.53 million), special purpose acquisition companies (nil), financial services (79.91 million), property (221.81 million), plantation (27.48 million), real estate investment trusts (4.88 million), closed/funds (270,700), energy (108.37 million), healthcare (40.37 million), telecommunications and media (61.13 million), transportation and logistics (34.37 million), and utilities (31.92 million).
Source: The Edge
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