KUALA LUMPUR, April 17 (Bernama) -- Bursa Malaysia rebounded from early losses to close higher today, supported by the upbeat performance of regional peers amid improved investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 6.35 points, or 0.43 per cent, to 1,483.27 compared to Wednesday’s close of 1,476.92. The benchmark index opened 1.75 points lower at 1,475.17 and moved between 1,473.21 and 1,487.27 throughout the day. In the broader market, gainers outpaced decliners 455 to 354, while 467 counters were unchanged, 1,134 untraded, and 19 others suspended. Turnover slipped to 2.40 billion units valued at RM1.60 billion from 3.00 billion units valued at RM1.65 billion on Wednesday.
KUALA LUMPUR (Aug 15): Bursa Malaysia maintained its positive momentum to close higher on Tuesday (Aug 15), supported by persistent buying in selected financial services and utilities counters amid mixed sentiments on the regional stock markets.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.28 points to 1,460.28 from 1,457 at Monday’s (Aug 14) close.
The barometer index opened 0.14 of a point easier at 1,456.86 and moved between 1,456.27 and 1,463.29 throughout the day.
On the
broader market, gainers overwhelmed decliners 603 to 369 while 402
counters were unchanged, 966 untraded and 13 others suspended.
Turnover improved to 3.87 billion units worth RM2.12 billion from 3.53 billion units worth RM1.89 billion on Monday.
Public Bank Bhd and Tenaga Nasional Bhd were the top two contributors towards the local benchmark index uptrend, rising six sen and nine sen to RM4.21 and RM9.89 respectively, with a combined contribution of 2.77 points.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices showed mixed trends after China reported lower consumer and business activity in July, while China's central bank also lowered a critical interest rate to support the economy.
Additionally, he told Bernama that concerns about the potential resurgence of prices in the US continue to be on people's minds, with rising gasoline costs adding to the problems for the upcoming months.
“Back home, we believe the market undertone will remain stable despite a weak regional performance, given the political stability in the country and continuous inflow of foreign funds. At the same time, we believe oil and gas (O&G) stocks will persist as a short-term play, with Brent crude oil staying above US$80 (RM370.71) per barrel.
“We maintain our FBM KLCI target for the week at circa 1,450-1,470 range with immediate resistance at 1,490 and support at 1,440,” he said.
Among other heavyweights, Maybank Bhd, CIMB Group Holdings Bhd and CelcomDigi Bhd added three sen each to RM9.03, RM5.68 and RM4.41, IHH Healthcare Bhd went up one sen to RM6 while Petronas Chemicals Group Bhd slipped three sen to RM6.80.
Among the actives, Classita Holdings Bhd fell one sen to 7.5 sen, Sapura Energy Bhd was flat at 5.5 sen, ACE Market debutant Glostrext Bhd gained 6.5 sen to 25.5 sen and MyEG Services Bhd added two sen to 79.5 sen.
On the index board, the FBM Emas Index was 35.83 points better at 10,748.24, the FBMT 100 Index gained 32.72 points to 10,432.97, the FBM Emas Shariah Index added 14.12 points to 10,950.40, the FBM 70 Index improved 83.61 points to 14,147.82 and the FBM ACE Index grew 9.90 points to 5,335.22.
Sector-wise, the Financial Services Index advanced 94.28 points to 16,401.15, the Industrial Products and Services Index added 0.56 of a point to 168.02, and the Energy Index rose 1.37 points to 835.48, while the Plantation Index shaved off 56.55 points to 7,017.47.
The Main Market volume widened to 2.54 billion units valued at RM1.75 billion from 2.45 billion units valued at RM1.58 billion on Monday.
Warrants turnover narrowed to 364.06 million units worth RM62.32 million versus Monday's 442.27 million units worth RM67.76 million.
The ACE Market volume rose to 962.33 million shares valued at RM310.41 million compared with 638.67 million shares valued at RM241.85 million previously.
Consumer products and services counters accounted for 843.15 million shares traded on the Main Market, industrial products and services (311.72 million); construction (133.7 million); technology (221.62 million); SPAC (nil); financial services (62.17 million); property (480.08 million); plantation (33.56 million); REITs (13.89 million), closed/fund (384,000); energy (256.44 million); healthcare (48.06 million); telecommunications and media (27.03 million); transportation and logistics (35.44 million); and utilities (72.2 million).
Source: The Edge
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