KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
KUALA LUMPUR, Sept 18 (Bernama) -- Bursa Malaysia’s main index closed lower on Friday after a choppy session, while buying interest shifted to smaller-cap stocks, particularly technology and construction counters.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.18 points, or 0.54 per cent, to 1,665.56, from Thursday’s close of 1,674.74.
The benchmark index opened 1.98 points higher at 1,676.72 and moved between 1,661.79 and 1,677.83 throughout the session.
Market breadth, however, remained positive, with 625 gainers against 564 decliners. A total of 505 counters were unchanged, 1,172 were untraded, and 22 were suspended.
Turnover surged to 4.91 billion units worth RM4.87 billion, from 3.60 billion units valued at RM3.25 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said major Asian indices trended higher as lower oil prices eased US inflation concerns, while a tech-led rebound on Wall Street lifted sentiment.
On the domestic front, Thong said the local market could not escape broader foreign selling across emerging ASEAN markets, as a hawkish Federal Reserve, elevated US Treasury yields and a stronger greenback encouraged investors to favour US dollar assets.
“Nevertheless, local investors have shifted their attention towards smaller-cap stocks, particularly in the technology and construction sectors, resulting in stronger broader-market breadth despite the FBM KLCI’s weakness.
“From a technical perspective, the FBM KLCI has slipped to 1,665, while its relative strength index (RSI) at just above 30 indicates that the benchmark is approaching oversold territory,” he told Bernama.
Thong said this could attract bargain hunters, but with momentum still fragile, the index must first reclaim the 1,670-1,675 level to signal easing selling pressure.
Otherwise, the next support lies around 1,650-1,655, he said.
Heavyweight counters saw Maybank lose four sen to RM10.32, Public Bank ease three sen to RM4.77, CIMB fall six sen to RM7.63, Tenaga Nasional reduce 28 sen to RM13.04 and IHH Healthcare erase five sen to RM7.64.
Among the most active counters, Zetrix AI lost 4.5 sen to 20 sen, AirAsia rose 2.5 sen to 53 sen and FBSM shed four sen to 6.5 sen. Jaks Resources added 1.5 sen to 15.5 sen, while Top Glove slipped two sen to 77.5 sen.
Leading the gainers, Malaysian Pacific Industries rose RM2.70 to RM42.80, Sunway Construction jumped 76 sen to RM7.88 and Time Dotcom gained 49 sen to RM6.41. Petronas Gas advanced 34 sen to RM17.50, while QL Resources gained 33 sen to RM4.19.
On the losing side, Petronas Dagangan shed RM1 to RM20.08, Nestle fell 94 sen to RM89.58, Hong Leong Bank lost 56 sen to RM22.54, PPB slipped 35 sen to RM9.36 and KLCCP Stapled fell 28 sen to RM8.31.
Source: Bernama
Comments
Post a Comment