KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
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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