KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
Wall Street Recap
U.S. equities bounced back, recouping recent losses amid inflation relief:
- S&P 500: +1.09% to 5930.85
- Dow Jones: +1.18% to 42840.26
- Nasdaq: +1.03% to 19572.60
Key developments include:
- Berkshire Hathaway boosted its stake in Occidental Petroleum, acquiring $409.2 million worth of shares over three days.
- Trump Media & Technology (DJT.US) fell 6% after Donald Trump transferred 115 million DJT shares, valued at over $4 billion, to a revocable trust.
Bursa Market Insight
Malaysia’s FTSE Bursa Malaysia KLCI closed lower at 1591.41 (-0.54%):
- Top Gainer: PBBANK (1295.MY) up 2.19% to RM12.14
- Top Loser: PETDAG (5681.MY) down 4.23% to RM19.02
Corporate Highlights
1. Top Glove (TOPGLOV.MY)
- Swung to a net profit of RM5.47 million in 1QFY2025, reversing a loss of RM57.71 million a year ago.
- Revenue surged 79.5% to RM885.89 million, driven by glove sales projected to rise 60% in FY2025, benefiting from U.S. tariffs on Chinese gloves.
2. Kenergy (KENERGY.MY)
- FY2024 net profit surged 44.5% to RM19.22 million, with revenue up 15% to RM113.1 million.
- Strong 4QFY2024 performance included revenue growth of 23.1% q-o-q, attributed to increased industrial process plant sales.
3. Malaysia Airports Holdings Bhd (AIRPORT.MY)
- Khazanah Nasional Bhd and EPF's takeover offer of RM11 per share was deemed fair by Hong Leong Investment Bank.
- However, MAHB's non-interested directors recommended rejecting the bid as unfair and unreasonable.
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