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 (Sept 19): Bursa Malaysia’s key index ended slightly lower after a bumpy trading session while the broader market was firmer on lack of buying interest as investors focused on small- and mid-cap stocks.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 0.33 of a point to 1,457.66 from Monday’s close of 1,457.99.
The index opened 1.27 points lower at 1,456.72 and moved between 1,454.61 and 1,459.0 throughout the day.
The broader market was positive with advancers outpacing decliners 519 to 406, while 453 counters were unchanged, 996 untraded and 11 others suspended.
Turnover was marginally higher at 3.95 billion units worth RM2.14 billion from 3.38 billion units worth RM2.12 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices finished mostly lower due to cautious trading ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday (Sept 20) while the Bank of Japan (BOJ) will announce its interest rate policy on Friday (Sept 22).
Brent crude oil continued its rally amid tighter supply, stoking worries about stagflation, Thong said.
Back home, the benchmark is well-supported thanks to the return of foreign funds.
“Despite the cautious market undertone in the region, we expect bargain hunting will prevail given the cheap valuation of local stocks, persistent support from local institutions and the return of foreign funds.
“We therefore maintain our weekly FBM KLCI target at the 1,450-1,465 range with immediate resistance at 1,465 and support at 1,445,” he said.
At the close, Bursa heavyweights Maybank Bhd lost two sen to RM8.91, CIMB Holdings Group Bhd fell one sen to RM5.75, while Petronas Chemicals Group Bhd added three sen to RM7.30.
Of the actives, KNM Group Bhd, Icon Offshore Bhd and Bumi Armada Bhd were 1.5 sen higher at 12 sen, 13 sen and 57 sen, respectively, and ACE Market debutant Mercury Securities Group Bhd gained five sen to 30 sen.
Meanwhile, Sapura Energy Bhd dropped half a sen to 5.5 sen.
On the index board, the FBM Emas Index advanced 3.68 points to 10,766, the FBMT 100 Index rose 2.12 points to 10,436.76, the FBM 70 Index improved 22.71 points to 14,248.71, the FBM Emas Shariah Index strengthened 4.29 points to 10,999.93 and the FBM ACE Index widened 16.49 points to 5,205.93.
Sector-wise, the Plantation Index decreased 20.93 points to 6,956.67, and the Financial Services Index was 21.08 points weaker at 16,319.96.
Meanwhile, the Industrial Products Services Index firmed 0.75 of a point to 173.69 and the Energy Index inched up 15.23 points to 907.77.
The Main Market’s volume increased to 2.73 billion units worth RM1.86 billion from 2.34 billion units worth RM1.9 billion on Monday.
Warrant turnover was reduced to 325.42 million units valued at RM47.27 million against 389.64 million units valued at RM51.71 million previously.
However, the ACE Market volume improved to 880.24 million shares worth RM229.12 million from 575.09 million shares worth RM166.77 million previously.
Consumer
products and services counters accounted for 281.55 million shares
traded on the Main Market, industrial products and services (394.81
million); construction (140.9 million); technology (162.8 million); SPAC
(nil); financial services (47.77 million); property (459.79 million);
plantation (41.29 million); REITs (74.85 million), closed/fund (32,400);
energy (976.69 million); healthcare (72.03 million); telecommunications
and media (23.41 million); transportation and logistics (57.16 million)
and utilities (69.89 million).
Source: The Edge
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