KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36. The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session. The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
KUALA LUMPUR, April 1 (Bernama) -- Bursa Malaysia closed higher on Wednesday, with the key index rising 1.10 per cent, in line with firm gains across regional markets following a strong rally on Wall Street overnight, said an analyst.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the improvement in sentiment was underpinned by easing geopolitical concerns and a decline in oil prices.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increase 18.54 points or 1.10 per cent to 1,708.90 from Tuesday’s close of 1,690.36.
The benchmark index opened 25.58 points higher at 1,715.94, marking its intraday high, and hit a low of 1,700.20 during the mid-morning session.
The broader market was positive, with gainers leading decliners 780 to 444. A total of 475 counters were unchanged, 926 untraded and 11 suspended.
Turnover narrowed to 3.58 billion units worth RM3.56 billion from yesterday’s 3.64 billion units worth RM3.96 billion.
Mohd Sedek said easing geopolitical concerns and a decline in oil prices helped lift overall risk appetite, particularly as lower energy prices are increasingly seen as supportive for inflation expectations and corporate cost structures across the region.
As a result, he said the FBM KLCI’s move above the key 1,700 level reflects resilience, but the broader structure remains range-bound.
"The market is pricing a de-escalation outcome, but until clarity emerges, the rally remains driven by positioning rather than fundamentals, leaving it sensitive to any reversal in geopolitical tone," he told Bernama.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said market sentiment turned positive following the de-escalation of geopolitical tensions in West Asia, but investors are advised to remain cautious of any reversal, as the situation remains fluid and subject to sudden shifts.
"In the near term, we expect buying interest to remain selective, with investors focusing on laggards and defensives while gradually rebuilding positions.
"Nevertheless, sustained upside may be capped in the absence of stronger catalysts," he said.
As such, Thong said the FBM KLCI is likely to trade within the 1,700-1,730 range for the remainder of the week, with volatility persisting as markets continue to monitor geopolitical developments closely.
Among heavyweights, Maybank added 30 sen to RM11.66, Public Bank gained nine sen to RM4.77, CIMB climbed 16 sen to RM7.71, and Tenaga Nasional garnered 18 sen to RM14.08, while IHH Healthcare slipped two sen to RM8.96.
On the most active list, V.S. Industry eased half-a-sen to 20 sen, Zetrix AI inched up 1.5 sen to 75.5 sen, AirAsia X perked up 10 sen to RM1.21, and Top Glove shed three sen to 66 sen.
Among top gainers, Nestle rose RM1.58 to RM100.70, Malaysian Pacific Industries put on RM1.18 to RM29.96, United Plantations jumped 80 sen to RM34.80, and Hong Leong Financial added 56 sen to RM19.52.
As for top losers, Petronas Chemicals decreased 67 sen to RM5.40, KLCC Property and MISC slipped 24 sen each to RM8.82 and RM8.20, respectively, Hengyuan Refining shrank 16 sen to RM1.24, and Westports gave up 13 sen to RM5.80.
On the index board, the FBM Top 100 Index increased 142.68 points to 12,317.59, the FBM Emas Index rose 147.28 points to 12,451.66, the FBM 70 Index leapt 237.66 points to 17,102.35, the FBM Emas Shariah Index climbed 82.47 points to 12,199.68, and the FBM ACE Index put on 103.44 points to 4,350.35.
By sector, the Financial Services Index surged 438.26 points to 20,462.25, the Industrial Products and Services Index slid 1.02 points to 181.88, the Energy Index slipped 5.22 points to 792.32, and the Plantation Index erased 17.96 points to 8,966.27.
The Main Market volume improved to 2.29 billion units valued at RM3.36 billion from Tuesday's 2.16 billion units valued at RM3.70 billion.
Warrants turnover fell to 1.03 billion units worth RM123.91 million from 1.22 billion units worth RM162.61 million previously.
The ACE Market volume was marginally higher at 262.88 million units valued at RM102.19 million from 262.23 million units valued at RM99.35 million yesterday.
Consumer products and services counters accounted for 299.09 million shares traded on the Main Market, industrial products and services (517.86 million), construction (214.16 million), technology (263.69 million), financial services (95.39 million), property (182.18 million), plantation (56.81 million), real estate investment trusts (13.96 million), closed-end fund (6,100), energy (251.74 million), healthcare (285.65 million), telecommunications and media (26.14 million), transportation and logistics (39.72 million), utilities (42.44 million), and business trusts (352,100).
Source: Bernama
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