KUALA LUMPUR, Sept 22 (Bernama) -- Bursa Malaysia finished trading higher on Tuesday, supported by continued bargain hunting following the recent heavy sell-off, in line with regional and global market performance as investors awaited the meeting between United States President Donald Trump and Chinese President Xi Jinping in Washington later this week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 16.56 points, or 0.99 per cent, to 1,683.50, from Monday’s close of 1,666.94. The benchmark index opened 2.80 points higher at 1,669.74 and moved between 1,665.23 and 1,684.34 throughout the session. Market breadth was positive with gainers surpassing losers 678 to 458. A total of 572 counters were unchanged, 1,165 untraded and 11 suspended. Turnover improved to 3.57 billion units worth RM3.15 billion, from 2.93 billion units valued at RM2.49 billion on Monday.
KUALA LUMPUR, Sept 22 (Bernama) -- Bursa Malaysia finished trading higher on Tuesday, supported by continued bargain hunting following the recent heavy sell-off, in line with regional and global market performance as investors awaited the meeting between United States President Donald Trump and Chinese President Xi Jinping in Washington later this week.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 16.56 points, or 0.99 per cent, to 1,683.50, from Monday’s close of 1,666.94.
The benchmark index opened 2.80 points higher at 1,669.74 and moved between 1,665.23 and 1,684.34 throughout the session.
Market breadth was positive with gainers surpassing losers 678 to 458. A total of 572 counters were unchanged, 1,165 untraded and 11 suspended.
Turnover improved to 3.57 billion units worth RM3.15 billion, from 2.93 billion units valued at RM2.49 billion on Monday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said positive comments from officials following preparatory talks have raised hopes that the existing trade truce could be extended.
“Overnight on Wall Street, renewed strength in technology shares and easing US Treasury yields helped ease some of the broader macroeconomic concerns weighing on investor sentiment,” he told Bernama.
On the home front, Thong said sentiment has turned more constructive as investors selectively accumulated beaten-down index heavyweights following the recent correction.
Regionally, he said the improvement in technology sentiment and easing pressure from US Treasury yields could provide some support to the local market, while the sharp pullback over the past two weeks has also brought selected blue-chip valuations to more attractive levels.
“Nevertheless, we remain mindful that the external backdrop is still uncertain.
“The US-Iran conflict remains unresolved despite the possibility of renewed diplomatic talks, while oil prices continue to trade above US$100 per barrel, leaving inflation and geopolitical risks elevated,” he said.
As such, Thong expects the barometer index to trend within the range of 1,670-1,700 for the remainder of the week.
Among heavyweights, Maybank and Tenaga Nasional both added six sen to RM10.44 and RM13.10, Public Bank rose five sen to RM4.84, CIMB gained 25 sen to RM7.90 and IHH Healthcare put on 38 sen to RM8.
Top active counters included AIMAX and Jaks Resources both was flat at one sen and 17 sen respectively, while Zetrix AI firmed half a sen to 20.5 sen, AirAsia expanded 4.5 sen to 57.5 sen and Capital A added three sen to 27 sen.
Of the top gainers, Hong Leong Bank ticked up 48 sen to RM23.38, Malaysian Pacific Industries was 40 sen higher RM43.20, Stratus Global inched up 37 sen to RM3.18, MI Technovation climbed 33 sen to RM5.99 and APM Automotive edged up 29 sen to RM2.83.
As for the top losers, Nestle dropped 54 sen to RM89.16, Allianz Malaysia was 20 sen lower at RM21.10, Petronas Dagangan declined 18 sen to RM20.14, Sunway Healthcare reduced 12 sen to RM2.17 and Edaran slid 11 sen to RM1.02.
On the index board, the FBM Mid 70 Index rose 155.27 points to 17,844.41, the FBM Emas Index added 115.53 points to 12,514.14, the FBM Top 100 Index inched up 117.44 points to 12,307.88, the FBM Emas Shariah Index gained 89.62 points to 12,326.38, and the FBM ACE Index advanced 52.68 points to 5,639.11.
Sector-wise, the Industrial Products and Services Index put on 1.40 points to 184.90, the Financial Services Index surged 243.22 points to 19,734.68, and the Plantation Index added 45.53 points to 9,456.02, while the Energy Index gave up 0.78 of a point to 844.65.
Main Market volume widened to 2.12 billion units worth RM2.78 billion, from 1.70 billion units valued at RM2.18 billion on Monday.
Warrant turnover increased to 910.51 million units worth RM129.49 million, from 751.17 million units valued at RM120.39 million previously.
ACE Market volume advanced to 544.47 million units valued at RM238.48 million, from 478.26 million units worth RM189.93 million on Monday.
Meanwhile, Consumer products and services counters accounted for 370.97 million shares traded on the Main Market, industrial products and services (288.84 million), construction (176.03 million), technology (589.57 million), financial services (74.22 million), property (168.69 million), plantation (40.35 million), real estate investment trusts (18.65 million), closed-end fund (37,100), energy (159.25 million), healthcare (109.69 million), telecommunications and media (22.83 million), transportation and logistics (43.63 million), utilities (57.03 million), and business trusts (60,800).
Source: Bernama
Comments
Post a Comment