KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Nov 7): Bursa Malaysia recouped most of its earlier losses to close marginally lower on Tuesday on profit taking, said a dealer.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.3 points to end at 1,463.37 from Monday's closing of 1,464.67.
The benchmark index opened 0.62 of a point easier at 1,464.05 and moved between 1,458.66 and 1,465.55 throughout the trading session.
The broader market was negative with decliners outpacing gainers 517 to 385, while 461 counters were unchanged, 985 untraded and seven others suspended.
Turnover dropped to 3.27 billion units valued at RM2.17 billion from Monday’s 3.76 billion units valued at RM2.34 billion.
Rakuten Trade equity research vice president Thong Pak Leng said the trend for Malaysian equities remained positive, driven by improving regional sentiment and substantial support from foreign investors.
“Despite profit-taking activities today, we view it as a healthy sign, as it allows the market to absorb the recent uptrend. Consequently, we expect the FBM KLCI to trend higher within the 1,460-1,480 range for the rest of the week, with immediate resistance at 1,465 and support at 1,430,” he said.
Among heavyweights, Maybank Bhd and IHH Healthcare Bhd increased four sen each to RM9.15 and RM6.05, respectively, CIMB Group Holdings Bhd was flat at RM5.81, Public Bank Bhd eased one sen to RM4.24, Petronas Chemicals Group Bhd shed six sen to RM7.28, and Tenaga Nasional Bhd declined five sen to RM9.95.
Of the actives, Top Glove Corp Bhd rose two sen to 78 sen, Dagang NeXchange Bhd rose 1.5 sen to 45.5 sen, EA Technique Bhd went up 4.5 sen to 38.5 sen, both Widad Group Bhd and Sarawak Consolidated Industries Bhd were flat at 45 sen and 57.5 sen, respectively, and Kanger International Bhd slipped 2.5 sen to 9.5 sen.
On the index board, the FBM Emas Index trimmed 7.35 points to 10,802.08, the FBMT 100 Index shed 4.92 points to 10,468.71, and the FBM Emas Shariah Index shaved off 14.78 points to 10,998.11.
The FBM 70 Index advanced 12.52 points to 14,253.33 and the FBM ACE Index decreased 25.34 points to 5,097.53.
Sector-wise, the Industrial Products and Services Index eased 0.32 of a point to 172.85, the Plantation Index dipped 32.79 points to 6,957.86, the Energy Index was 5.59 points firmer at 870.88, and the Financial Services Index climbed 4.01 points to 16,459.83.
The Main Market volume went down to 2.1 billion units worth RM1.91 billion compared with Monday’s 2.59 billion units worth RM2.08 billion.
Warrants turnover fell to 380.13 million units valued at RM53.48 million from 388.59 million units valued at RM49.43 million yesterday.
The ACE Market volume was slightly lower at 774.76 million shares worth RM199.73 million from 778.81 million shares worth RM211.14 million previously.
Consumer products and services counters accounted for 284.81 million shares traded on the Main Market, industrial products and services (405.54 million); construction (148.5 million); technology (255.49 million); SPAC (nil); financial services (57.7 million); property (224.21 million); plantation (24.36 million); REITs (11.5 million), closed/fund (67,100); energy (123.39 million); healthcare (284.82 million); telecommunications and media (36.83 million); transportation and logistics (131.52 million); and utilities (110.38 million).
Source: The Edge
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