KUALA LUMPUR, June 5 (Bernama) -- Bursa Malaysia closed higher, with the benchmark index rising 0.60 per cent as bargain-hunting persisted following the recent sell-off, despite weaker performances across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.17 points to 1,693.43 from Thursday's close of 1,683.26. The benchmark index opened 3.19 points higher at 1,686.45 and traded between 1,684.36 and 1,698.53 during the trading session. However, broader market sentiment remained negative, with losers outnumbering gainers 666 to 477. A total of 574 counters were unchanged, 958 untraded and 12 suspended. Turnover fell to 3.41 billion units worth RM3.04 billion from 3.47 billion units worth RM3.58 billion on Thursday.
KUALA LUMPUR, June 4 (Bernama) -- Bursa Malaysia ended on a firmer note today, outperforming a broadly weaker regional market, as local sentiment was supported by bargain hunting in oversold blue-chip stocks following the benchmark index’s recent slide.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said Bursa Malaysia's rebound from yesterday's losses came despite a cautious regional backdrop, with most Asian markets mirroring Wall Street's overnight decline, amid concerns that persistent inflation could limit the scope for near-term US Federal Reserve rate cuts.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.52 points, or 0.62 per cent, to 1,683.26 from Wednesday's close of 1,672.74.
The index, which opened 1.75 points higher at 1,674.49, moved between 1,673.70 and 1,689.83 throughout the day.
Despite gains in the key index, market breadth remained negative, with losers outnumbering gainers 678 to 525, while 531 counters were unchanged, 924 untraded, and 12 suspended.
Turnover trimmed to 3.47 billion units valued at RM3.58 billion compared with 3.85 billion units valued at RM4.69 billion on Wednesday.
Regionally, Hong Kong’s Hang Seng Index fell by 1.48 per cent to 25,253.40, Singapore’s Straits Times Index went down 1.38 per cent to 5,067.53, Japan’s Nikkei 225 dipped 1.36 per cent to 67,470.69, and South Korea’s KOSPI Composite Index tumbled 1.84 per cent to 8,639.41.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said hopes for progress in US-Iran negotiations faded after reports emerged that Tehran had suspended indirect discussions with Washington.
“Back home, sentiment remains fragile as foreign investors continue to trim their positions while global uncertainties linger.
“While bargain hunting may continue to provide some support to the market, investors are likely to remain selective amid concerns over geopolitical developments, the global interest rate outlook, and the direction of foreign fund flows,” he told Bernama.
Among heavyweights, Maybank jumped 18 sen to RM10.60, Public Bank increased four sen to RM4.78, Tenaga Nasional gained two sen to RM14.10, CIMB firmed 15 sen to RM7.35, and IHH added three sen to RM8.79.
Of the active stocks, Pharmaniaga bagged 3.5 sen to 29 sen, SKP Resources perked up 2.5 sen to 37.5 sen, while VS Industry and Velesto were half a sen lower at 21.5 sen and 30 sen, respectively, and Zetrix was flat at 82.5 sen.
As for the top gainers, Nestle rose RM1.60 to RM95.12, United Plantations put on RM1.18 to RM31.30, KL Kepong advanced 70 sen to RM20.20, Batu Kawan climbed 56 sen to RM20.16, and SD Guthrie garnered 20 sen to RM6.04.
Among the top losers, Malaysian Pacific Industries dropped RM1.46 to RM47.44, Fraser & Neave fell 78 sen to RM26.88, Press Metal slid 28 sen to RM9.00, while UWC and Pentamaster lost 26 sen each to RM5.61 and RM4.25, respectively.
On the index board, the FBM Emas Index rose 48.84 points to 12,561.52, the FBM Top 100 Index increased 50.43 points to 12,397.93, but the FBM Emas Shariah Index shed 8.72 points to 12,572.65.
The FBM Mid 70 Index declined 40.27 points to 18,365.95 and the FBM ACE Index eased 1.72 points to 4,723.94.
By sector, the Financial Services Index jumped 224.46 points to 19,545.49, the Energy Index climbed 4.37 points to 792.38, and the Plantation Index surged 248.52 points to 8,698.95, while the Industrial Products and Services Index slid 2.63 points to 198.43.
The Main Market volume narrowed to 2.11 billion units valued at RM3.29 billion from 2.20 billion units valued at RM4.34 billion on Wednesday.
Warrants turnover slipped to 933.20 million units valued at RM131.84 million from 969.97 million units valued at RM115.65 million previously.
The ACE Market volume tumbled to 428.13 million units valued at RM162.39 million from 671.50 million units valued at RM228.81 million yesterday.
Consumer products and services counters accounted for 250.78 million shares traded on the Main Market, industrial products and services (517.74 million), construction (129.58 million), technology (337.79 million), financial services (81.94 million), property (138.34 million), plantation (59.57 million), real estate investment trusts (47.66 million), closed-end fund (10,000), energy (181.20 million), healthcare (250.02 million), telecommunications and media (45.36 million), transportation and logistics (26.58 million), utilities (48.32 million), and business trusts (698,000).
Source: Bernama
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