KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR, April 23 (Bernama) -- Bursa Malaysia rebounded from yesterday’s downbeat performance to end at its intraday high today, driven by bargain hunting, particularly in technology, energy, construction, and consumer stocks.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.94 points or 1.01 per cent to 1,501.19 from Tuesday’s close of 1,486.25.
The benchmark index opened 11.11 points higher at 1,497.36 and hit a low of 1,493.26 in the mid-afternoon session before climbing steadily upwards towards closing.
Market breadth was positive, with advancers thumping decliners 717 to 264, while 403 counters were unchanged, 1,021 untraded, and 11 suspended.
Turnover slipped to 2.99 billion units valued at RM2.08 billion against Tuesday’s 3.43 billion units valued at RM1.66 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices were also in positive territory as optimism returned after US President Donald Trump ruled out firing the Federal Reserve chair Jerome Powell and suggested a more conciliatory approach towards China with lower tariffs.
“While expressing interest in a trade deal with China and downplaying the likelihood of 145 per cent tariffs, Trump cautioned that he would impose terms unilaterally if Beijing stayed out of negotiations.
“The clearer outlook brought by this news is beneficial for the domestic market, offering reassurance to investors,” he told Bernama.
Thong believes these would help stabilise the sentiment, with the benchmark index likely staying within the 1,490-1,510 range this week.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI closed higher today, decisively breaching the psychological 1,500 threshold -- underscoring the resilience of domestic market sentiment and reaffirming the conviction that the index likely found its cyclical bottom during the April 9 sell-off.
“Today’s rally was driven by a modest improvement in investor confidence, following Trump’s unexpected conciliatory stance on China tariffs and his reassurance that he has no intention of removing Powell.
“This shift fostered a mild risk-on environment, as markets cautiously embraced the potential for a de-escalation in US-China trade tensions -- further supported by remarks from Treasury Secretary Scott Bessent,” he added.
He said Bessent spoke at an investor summit in Washington yesterday, expressing confidence that the US and China are poised to begin reversing their trade hostilities in the “very near future,” providing a measure of reassurance amid lingering geopolitical uncertainty.
Looking ahead, Mohd Sedek said the next two sessions, Thursday and Friday, will be critical for the index.
“If the FBM KLCI maintains its position above the 1,500 mark and tests the 1,515 level by week’s end, it could set the stage for sustained momentum and potentially rekindle foreign institutional interest in the local market,” he added.
Among the heavyweights, Public Bank increased 3.0 sen to RM4.40, Tenaga Nasional and CIMB perked up 10 sen each to RM13.50 and RM6.85, respectively, IHH Healthcare put on 2.0 sen to RM6.86, while Maybank was flat at RM9.95.
As for the actives, Richtech Digital was 8.5 sen higher at 27 sen, Pertama Digital edged up 1.0 sen to 13.5 sen, Nationgate gained 5.0 sen to RM1.21, while My E.G. Services and Tanco were flat at 89 sen and 84.5 sen respectively.
On the index board, the FBM Emas Index advanced 122.58 points to 11,121.60, the FBMT 100 Index increased 115.80 points at 10,902.76, the FBM Emas Shariah Index jumped 148.20 points to 10,946.64, the FBM 70 Index soared 194.49 points to 15,550.88, and the FBM ACE Index climbed 41.59 points to 4,602.69.
Sector-wise, the Financial Services Index rose 88.26 points to 17,938.21, the Industrial Products and Services Index perked up 2.73 points to 145.19, the Energy Index gained 7.30 points to 661.73, but the Plantation Index eased 1.83 points to 7,214.49.
The Main Market volume improved to 1.37 billion units worth RM1.83 billion against yesterday’s 1.25 billion units worth RM1.37 billion.
Warrants turnover dwindled to 1.19 billion units valued at RM117.86 million from 1.90 billion units valued at RM194.42 million previously.
The ACE Market volume surged to 427.40 million units worth RM130.50 million compared to 274.01 million units worth RM97.09 million on Tuesday.
Consumer products and services counters accounted for 208.48 million shares traded on the Main Market, industrial products and services (225.02 million), construction (104.12 million), technology (268.28 million), SPAC (nil), financial services (102.97 million), property (154.37 million), plantation (15.04 million), REITs (10.77 million), closed/fund (1,100), energy (117.78 million), healthcare (49.70 million), telecommunications and media (47.38 million), transportation and logistics (26.60 million), utilities (38.18 million), and business trusts (6,600).
Source: Bernama
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