KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week slightly higher, mirroring gains in regional indices, despite Wall Street’s weak performance overnight.
At 5 PM, the FBM KLCI rose by 2.12 points, or 0.14%, to close at 1,512.15, compared to 1,510.03 on Thursday.
The benchmark index opened 10.08 points lower at 1,499.95, fluctuating between 1,493.29 and 1,516.25 throughout the trading session.
Across the broader market, gainers outnumbered losers 680 to 292, while 437 counters remained unchanged, 1,009 were untraded, and 13 were suspended.
Regional Markets and Investor Sentiment
Rakuten Trade Sdn Bhd Vice President of Equity Research, Thong Pak Leng, told Bernama that most regional indices closed higher, driven by strong buying interest in Chinese and Hong Kong stocks, following the People’s Bank of China’s pledge to cut interest rates.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd Head of Investment Research, Mohd Sedek Jantan, noted that utility stocks led the gainers within FBM KLCI components, while financial stocks saw the largest declines.
However, the drop in financial stocks was not significant, largely due to dividend payouts on select counters.
“The buying momentum in undervalued stocks, which began yesterday, continued today after heavy selling pressure earlier in the week.
“Investors focused on strong fundamentals stocks that had been oversold, making them the main attraction in today’s trade,” he said.
Performance of Heavyweight Stocks
Among FBM KLCI heavyweights:
Maybank added two sen to RM10.32
YTL Power gained 13 sen to RM3.12
YTL Corporation rose 11 sen to RM1.93
99 Speed Mart advanced four sen to RM2.05
MR DIY fell one sen to RM1.34
Active Stocks Movement
Among active stocks:
Nationgate gained five sen to RM1.36
KNM and Velesto each added half a sen to 4.5 sen and 16 sen, respectively
Saudigold declined half a sen to one sen
NEXG remained unchanged at 25.5 sen
Sectoral and Market Performance
On the index board:
FBM Emas Index gained 49.59 points to 11,300.14
FBMT 100 Index climbed 38.82 points to 11,069.83
FBM Emas Shariah Index surged 83.80 points to 10,989.58
FBM ACE Index advanced 147.14 points to 4,677.68
FBM 70 Index jumped 149.34 points to 16,138.47
By sector, performance was mixed:
Financial Services Index fell 49.36 points to 18,522.82
Industrial Products & Services Index rose 1.40 points to 153.73
Energy Index added 13.16 points to 718.73
Plantation Index gained 38.10 points to 7,369.75
Trading Volume and Market Turnover
Main Market volume decreased to 1.49 billion shares worth RM2.20 billion, compared to 1.93 billion shares worth RM2.65 billion on Thursday.
Warrant trading volume dropped to 1.34 billion shares worth RM140.15 million, from 803.42 million shares worth RM86.46 million previously.
ACE Market volume fell to 409.05 million shares worth RM153.09 million, compared to 513.55 million shares worth RM165.07 million yesterday.
Sectoral Contribution in the Main Market
Consumer Products & Services: 205.96 million shares traded
Industrial Products & Services: 286.04 million
Construction: 109.46 million
Technology: 223.93 million
SPAC: 0
Financial Services: 100.28 million
Property: 121.98 million
Plantation: 20.55 million
REITs: 19.91 million
Closed-End Fund: 21,000
Energy: 224.30 million
Healthcare: 68.04 million
Telecommunications & Media: 36.23 million
Transportation & Logistics: 24.84 million
Utilities: 51.99 million
Business Trusts: 16,800
— BERNAMA
