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 (Dec 1): Bursa Malaysia ended the week marginally higher due to late buying, particularly in telecommunications and banking stocks, a dealer said.
At 5pm, the FBM KLCI improved 0.25% or 3.64 points to 1,456.38 from Thursday’s close of 1,452.74.
The benchmark index opened 0.74 of-a-point lower at 1,452 and moved between 1,450.09 and 1,456.52 throughout the trading session.
However,
market breadth was negative, with decliners leading gainers by 467 to
432, while 435 counters were unchanged, 988 untraded and 27 others
suspended.
Turnover shrank to 3.23 billion units worth RM2.26 billion from 4.25 billion units worth RM4.97 billion on Thursday.
Rakuten Trade equity research vice-president Thong Pak Leng said the uncertainty about the regional outlook arose due to mixed economic data from China, leading to anxiety among investors.
"On the local front, we expect the near-term outlook to be positive, supported by the decent earnings performance for the third quarter of 2023 and continuous foreign buying,” he told Bernama.
Among heavyweights, Malayan banking Bhd gained two sen to RM9, Public Bank Bhd added five sen to RM4.32, CIMB Group Holdings Bhd rose 12 sen to RM5.77, Maxis Bhd improved six sen to RM3.96, and Telekom Malaysia Bhd perked up three sen to RM5.30.
As for the most active counters, Velesto Energy Bhd put on half-a-sen to 22.5 sen, Reneuco Bhd went up half-a-sen to 19.5 sen, Widad Group Bhd increased half-a-sen to 47 sen, Leform Bhd ticked up two sen to 34 sen, while Sarawak Consolidated Industries Bhd was unchanged at 77 sen.
On the index board, the FBM Emas Index was 1.75 points weaker at 10,725.65, the FBMT 100 Index slid 1.77 points to 10,394.78 and the FBM Emas Shariah Index slipped 51.78 points to 10,877.58.
The FBM 70 Index tumbled 123.84 points to 14,048.05 while the FBM ACE Index climbed 67.71 points to 5,133.16.
Sector-wise, the Financial Services Index rose 157.62 points to 16,379.57, the Industrial Products and Services Index shed 0.28 of-a-point to 171.99, the Energy Index sank 13.50 points to 815.60, and the Plantation Index declined 51.00 points to 6,990.41.
The Main Market volume decreased to 1.90 billion units valued at RM1.98 billion from 2.68 billion units valued at RM4.65 billion on Thursday.
Warrants turnover dwindled to 639.84 million units worth RM68.94 million against 806.07 million units worth RM99.02 million previously.
The ACE Market volume declined to 686.81 million shares valued at RM205.18 million versus 758.20 million shares valued at RM221.65 million.
Consumer products and services counters accounted for 342.10 million shares traded on the Main Market, industrial products and services (413.96 million), construction (97.14 million), technology (180.31 million), SPAC (nil), financial services (108.75 million), property (168.36 million), plantation (22.96 million), REITs (10.29 million), closed/fund (3,500), energy (292.02 million), healthcare (119.57 million), telecommunications and media (35.67 million), transportation and logistics (37.89 million), and utilities (74.51 million).
Source: The Edge
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