KUALA LUMPUR (Aug 8): Bursa Malaysia closed higher on Tuesday (Aug 8) amid a mixed performance by regional peers as local market sentiment recovered with buying support seen in heavyweights, mainly banking stocks.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.19 points to end the day at 1,451 from 1,445.81 at Monday’s (Aug 7) close.
The barometer index opened 1.6 points lower at 1,444.21 and subsequently hit a low of 1,441.63 before gathering steam to move on an upward trajectory. It reached an intraday high of 1,452.47 at mid-afternoon.
On the broader market, gainers beat losers 437 to 389, while 456 counters were unchanged, 1,008 untraded and 14 others suspended.
Turnover increased marginally to 3.17 billion units worth RM1.71 billion from 3.13 billion units worth RM1.34 billion yesterday.
CIMB was the largest contributor to the gains in the composite index with 1.405 points, after rising eight sen to RM5.60 with 9.5 million shares changing hands, while Sime Darby was the biggest gainer among the index-linked counters, putting on 1.84%.
A dealer said domestic traders are closely monitoring the second-quarter corporate earnings announcements, with the expectations of decent growth this year, especially in the banking, telecommunications and utility stocks.
Banking heavyweights, Maybank Bhd rose five sen to RM8.97, Public Bank Bhd added one sen to RM4.14, RHB Bank Bhd climbed three sen to RM5.68, Hong Leong Bank Bhd added four sen to RM19.70, while AMMB Holdings Bhd perked up two sen to RM3.77.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the uptrend on the local market would likely continue as the benchmark index is trading at calendar year 2023 forward price-earnings ratio of 14 times as compared with its five-year average of more than 17 times.
“Thus, our projection is for the FBM KLCI to exhibit a more positive performance, and we anticipate it to stay within the 1,440-1,460 region throughout the rest of the week.
“On a technical perspective, the immediate resistance and support are unchanged at 1,460 and 1,440 respectively,” he said.
As for other heavyweights, Tenaga Nasional Bhd picked up four sen to RM9.60, Petronas Chemicals Group Bhd shed two sen to RM6.83, CelcomDigi Bhd slipped one sen to RM4.29, while IHH Healthcare Bhd was flat at RM5.93.
Among the actives, Sapura Energy Bhd edged up half-a-sen to 5.5 sen, UEM Sunrise rose 2.5 sen to 52 sen, both Sersol and Sarawak Consolidated added half a sen each to 15.5 sen and 44.5 sen respectively, while Classita Holdings Bhd slid two sen to 11.5 sen.
On the index board, the FBM Emas Index advanced 37.1 points to 10,655.11, the FBMT 100 Index climbed 36.22 points to 10,347.86, the FBM 70 Index went up 45.56 points to 13,952.77, the FBM Emas Shariah Index improved 21.83 points to 10,883.16, while the FBM ACE Index garnered 40.29 points to 5,293.68.
Sector-wise, the Financial Services Index soared 74.13 points to 16,246.39, the Energy Index gained 0.27 of a point to 829.81, the Plantation Index increased 32.77 points to 7,143.32, and the Industrial Products Services Index added 0.24 of a point to 166.7.
The Main Market volume expanded to 3.17 billion units valued at RM1.71 billion from 2.39 billion units valued at RM1.12 billion on Monday.
Warrants turnover swelled to 430.44 million units worth RM68.45 million versus Monday’s 265.57 million units worth RM38.7 million.
The ACE Market volume jumped to 602.48 million shares valued at RM199.96 million compared with 470.54 million shares valued at RM186.42 million previously.
Consumer
products and services counters accounted for 643.54 million shares
traded on the Main Market, industrial products and services (301.55
million); construction (102.47 million); technology (84.84 million);
SPAC (nil); financial services (57.74 million); property (259.46
million); plantation (31.66 million); REITs (13.11 million), closed/fund
(19,100); energy (439.06 million); healthcare (48.29 million);
telecommunications and media (39.94 million); transportation and
logistics (47.25 million); and utilities (56.38 million).
Source: The Edge
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