KUALA LUMPUR, Jan 8 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) reversed yesterday’s gains to close lower on Wednesday as investors took profit amid the negative performance of regional peers. At 5 pm, the FBM KLCI fell 14.96 points or 0.92 per cent to end at its intraday low of 1,614.83 from Tuesday’s close of 1,629.79. The benchmark index opened 0.87 of-a-point easier at 1,628.92 and hit an intraday high of 1,631.15 during the early morning session. Decliners trounced advancers 827 to 285 on the broader market, while 497 counters were unchanged, 761 untraded, and 10 others suspended. Turnover narrowed to 3.59 billion units valued at RM3.06 billion against Tuesday’s 3.91 billion units valued at RM3.29 billion. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan noted that major Asian indices followed Wall Street’s downbeat performance, driven by t...
KUALA LUMPUR, Jan 7 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) recovered from yesterday’s losses to close higher Tuesday, driven by bargain-hunting amidst the positive momentum on Wall Street overnight and most regional markets.
At 5 pm, the market bellwether increased 4.32 points or 0.26 per cent to 1,629.79 compared with Monday’s close of 1,625.47.
The index opened 0.97 of-a-point lower at 1,624.50 and moved between 1,624.50 and 1,634.27 throughout the day.
However, the broader market was negative with losers outpacing gainers 614 to 490, while 537 counters were unchanged, 712 untraded and 10 others suspended.
Turnover improved to 3.91 billion units valued at RM3.29 billion against Monday’s 3.47 billion units valued at RM2.66 billion.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said optimism in the local market was further boosted by the formalisation of the Johor-Singapore Special Economic Zone (JS-SEZ), signed earlier today by the leaders of Malaysia and Singapore.
Additionally, he said local and regional markets are expected to remain buoyant following the People's Bank of China’s (PBOC) announcement of its intention to adopt a moderately loose monetary policy in 2025.
Among FBM KLCI components, stocks that are poised to benefit from the JS-SEZ – including those in the construction, property, and utilities sectors – led the gainers.
“These advances also propelled the Bursa Malaysia Construction Index to surge by over 3.0 per cent and the Bursa Malaysia Technology Index to gain 1.61 per cent to top the sectoral gainers,” he told Bernama.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market participants are closely evaluating the potential implications of policy shifts under the administration of incoming President Donald Trump, whose term is set to commence shortly.
In addition, the US Federal Reserve will release minutes from its last policy meeting, where it cut its main interest rate for a third straight time, he added.
Among the heavyweights, Gamuda added 34 sen to RM5.20, Petronas Dagangan gained 22 sen to RM20.04, Public Bank was flat at RM3.65, while Petronas Gas and QL Resources were two sen lower at RM17.76 and RM4.68 respectively.
For active stocks, Bumi Armada rose two sen to 68.5 sen, Nationgate soared 19 sen to RM2.95, Sime Darby Property was up four sen to RM1.73, while Zen Tech and Talam Transform were flat at 1.0 sen and 2.5 sen respectively.
Source: Bernama
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