KUALA LUMPUR, Jan 23 (Bernama) -- Bursa Malaysia’s benchmark index recouped earlier losses to settle higher, maintaining a more than six-year high, buoyed by continued buying interest in technology stocks, while the strengthening of the ringgit against the US dollar further lifted investor sentiment. At 2.27 pm today, the local currency strengthened to 3.9992 versus the greenback, its strongest level in more than seven years. It was last seen at this level on June 18, 2018, at 3.9960/9990. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.85 points or 0.17 per cent to 1,719.99 from yesterday’s close of 1,717.14. The index surpassed its previous peak of 1,719.00 recorded on Feb 26, 2019. The barometer index opened 1.30 points lower at 1,715.84 and moved between an intraday low of 1,711.89 in early trade and a high of 1,723.41 in late afternoon before slipping slightly toward the close. However, market breadth was negative with decl...
KUALA LUMPUR, Jan 14 (Bernama) -- Bursa Malaysia’s benchmark index closed marginally higher today, supported by late buying interest in selected blue-chip stocks that lifted the market into positive territory by the end of the session.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.71 points, or 0.16 per cent, to 1,710.91 from Tuesday’s close of 1,708.20.
The benchmark index opened 2.32 points lower at 1,705.88 and traded within a range of 1,704.03 to 1,711.66 throughout the session.
Market breadth was positive, with gainers outpacing losers 664 to 450. A total of 539 counters were unchanged, 986 untraded, and 12 suspended.
Turnover declined to 3.11 billion units worth RM3.19 billion from Tuesday’s 3.41 billion units worth RM3.55 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that local sentiment remains positive, supported by the gradual return of foreign buying.
He said the benchmark index at its current level signals growing confidence in local fundamentals, with buying focused on quality stocks.
“While some profit-taking may emerge following the recent advance, any near-term pullback is expected to be orderly.
“Overall, the market’s tone remains positive, and the benchmark index is likely to stay supported in the near term provided investor confidence and foreign participation remain intact,” he said, adding that the weekly FBM KLCI target is between 1,690 and 1,720.
Among the heavyweights, Maybank was two sen lower at RM11.04, CIMB fell three sen to RM8.35, and IHH Healthcare dropped nine sen to RM8.45. Tenaga Nasional gained two sen to RM13.82 and Public Bank added three sen to RM4.67.
On the most active list, Capital A soared 10.5 sen to 54.5 sen, Zetrix AI gained one sen to 83 sen, Tanco improved two sen to RM1.23, Dagang NeXchange picked up 1.5 sen to 35.5 sen, while MMAG was half-a-sen lower at five sen.
Among the top gainers, Petronas Dagangan jumped 80 sen to RM21.0, Fraser & Neave firmed 36 sen to RM36.36, KL Kepong and Petronas Gas rose 34 sen each to RM20.58 and RM18.70, respectively, and Hong Leong Financial climbed 32 sen to RM20.42.
Among the top decliners were Nestle, which dropped RM1.30 to RM118.50, United Plantations decreased 50 sen to RM33.50, Allianz and Hong Leong Industries dipped 20 sen each to RM20.20 and RM16.80, respectively, and Malayan Cement shed 16 sen to RM7.68.
Source: Bernama
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