KUALA LUMPUR, Oct 15 (Bernama) -- Bursa Malaysia’s key index retreated four days of gains to close lower on Thursday, following profit-taking in selected heavyweight stocks and tracking regional and Wall Street losses. The S&P 500 and Nasdaq dropped 1.1 per cent and 1.9 per cent, respectively, while the Dow dipped just 0.1 per cent. Regionally, the Hang Seng decreased 1.03 per cent to 24,062.72, while STI Index fell 0.37 per cent to 5,403.50. The KOSPI Composite Index slipped 7.57 per cent to 5,554.22, and the Nikkei 225 shed 4.90 per cent to 64,425.95. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.02 points, or 0.24 per cent, to 1,623.70 from Wednesday’s close of 1,627.72. The benchmark index, which opened 2.62 points lower at 1,625.10, moved between 1,617.14 and 1,625.61 throughout the session. On the broader market, decliners outnumbered gainers 852 to 294, while 485 counters were unchanged, 1,212 untraded and 9 suspended. Turnover declined to 3.06 billion units ...
Market Daily Report: Bursa Malaysia Extends Winning Streak To Four Days As Bargain Hunting Continues
KUALA LUMPUR, Oct 14 (Bernama) -- Bursa Malaysia’s index extended its winning streak to four consecutive days, ending higher on Wednesday, as bargain hunting continued in banking heavyweights, with the market remaining largely in positive territory throughout the trading session.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.37 points, or 0.26 per cent, to 1,627.72 from Tuesday’s close of 1,623.35.
The benchmark index, which opened 0.59 points firmer at 1,623.94, recorded an intraday low at that level before hitting a high of 1,628.01.
On the broader market, gainers outnumbered decliners 541 to 532, while 566 counters were unchanged, 1,216 untraded and 21 suspended.
Turnover declined to 3.25 billion units worth RM3.03 billion from 3.60 billion units worth RM3.32 billion on Tuesday.
Financial services counters Public Bank rose five sen to RM4.75 and AMMB Holdings gained seven sen to RM6.34, while Maybank added two sen to RM9.98.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng maintained a mildly positive outlook, as the recent correction has brought valuations of selected blue chips to more attractive levels, creating opportunities for further accumulation.
Looking ahead to the remainder of the week, he expected the FBM KLCI to consolidate with a mild upward bias, although he said the recovery was likely to remain selective given weak broader market participation.
“Malaysia's upcoming third quarter 2026 advance gross domestic product (GDP) estimate on Friday could reinforce confidence in the domestic economy, while US inflation data and corporate earnings will influence global risk appetite,” he told Bernama.
However, Berjaya Research Sdn Bhd head of research Kenneth Leong said the FBM KLCI may face near-term profit-taking following four consecutive sessions of gains, with investors keeping a close eye on US inflation data later tonight.
“Against this backdrop, we expect the FBM KLCI to trade cautiously in the near term, as signs of quick profit-taking emerged after the key index retreated from its intraday high today.
“The immediate resistance levels are located at 1,630-1,640 points. Meanwhile, the immediate support is pegged at the 1,600-point psychological, followed by 1,580 points,” he said.
Among the heavyweights, MISC rose 45 sen to RM8.37, while IHH Healthcare increased three sen to RM8.01. Sunway and SD Guthrie each rose five sen to RM4.45 and RM5.97, respectively. Petronas Chemicals Group jumped 11 sen to RM4.43.
In active trade, ACE Market debutant Ecosys, which opened at 70 sen, 43 sen above its initial public offering (IPO) price of 27 sen per share, closed at 80 sen, up 53 sen from its IPO price, while Top Glove added 5.5 sen to 91 sen. Ni Hsin climbed 2.5 sen to 41.5 sen. However, Zetrix AI eased one sen to 5.5 sen, while JAKS Resources eased half a sen to 14.5 sen.
Among the top gainers, Malaysian Pacific rose 84 sen to RM42.00, while Kuala Lumpur Kepong improved 46 sen to RM21.30. Bus Cap increased 22.5 sen to RM1.22 and Mentiga Corporation advanced 21 sen to 79 sen. Kelington Group added 18 sen to RM8.68.
The top losers included Samaiden Group, which trimmed 28 sen to RM2.79, while Solarvest lost 23 sen to RM3.87, and Fraser & Neave tumbled 22 sen to RM19.94. Critical Holdings dived 21 sen to RM2.61, while Dutch Lady Milk Industries was 12 sen weaker at RM29.30.
On the index board, the FBM Mid 70 Index increased 66.88 points to 17,444.88, the FBM Emas Shariah Index rose 30.88 points to 12,105.35, the FBM Emas Index added 35.85 points to 12,142.60, while the FBM Top 100 Index gained 35.57 points to 11,934.03. However, the FBM ACE Index slipped 30.10 points to 5,455.25.
Sector-wise, the Industrial Products and Services Index edged up 0.91 of a point to 180.61, the Financial Services Index bounced 58.26 points to 18,824.43, and the Plantation Index advanced 83.85 points to 8,896.97. However, the Energy Index went down 7.01 points to 828.05.
The Main Market volume fell to 1.81 billion units worth RM2.60 billion from 2.19 billion units worth RM2.99 billion on Tuesday.
Warrant turnover declined to 808.38 million units worth RM105.78 million from 860.20 million units worth RM116.20 million.
The ACE Market volume increased to 628.65 million units valued at RM325.60 million from 553.61 million units valued at RM204.73 million.
Meanwhile, consumer products and services counters accounted for 247.65 million shares traded on the Main Market, industrial products and services (278.48 million), construction (174.06 million), technology (496.08 million), financial services (103.81 million), property (81.94 million), plantation (39.21 million), real estate investment trusts (65.89 million), closed-end funds (116,000), energy (122.00 million), healthcare (163.41 million), telecommunications and media (23.66 million), transportation and logistics (43.45 million), utilities (32.57 million), and business trusts (60,300).
Source: Bernama
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