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 ...
Foreign investors remained net buyers of Malaysian equities for the sixth consecutive week, with a total inflow of RM271.5 million last week, according to MIDF Research. Despite a shortened trading week due to the Mawlid holiday on September 16, foreign investors net bought RM167.7 million on Tuesday, RM122.9 million on Thursday, and RM57.0 million on Friday, offsetting Wednesday's net sell of RM76.1 million.
Malaysia’s August 2024 export growth, driven by strong demand for electronics and rising shipments to the US and other key markets, exceeded expectations. Exports grew 12.1% year-on-year, reaching RM129.16 billion, while gross imports saw a significant 26.2% year-on-year increase to RM123.49 billion.
The financial services sector attracted the highest foreign inflows, with RM352.2 million, followed by healthcare at RM211.9 million, and property at RM55.0 million. In contrast, the utilities sector recorded the highest outflows at RM172.3 million, with technology and consumer products and services sectors also experiencing outflows of RM85.3 million and RM49.7 million, respectively.
Local institutions contributed to the market’s strength with net inflows of RM38.7 million, marking their second consecutive week of buying. However, local retailers continued their net selling trend for the second week, offloading RM310.2 million worth of equities.
Market activity saw a boost, with average daily trading volumes increasing by 10.9% for local retailers, 4.9% for local institutions, and a notable 42.9% for foreign investors, reflecting heightened trading across all sectors.
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