KUALA LUMPUR: Bursa Malaysia snapped a five-day losing streak to end the week higher in tandem with the regional markets amid positive Wall Street performance overnight.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,477.19, up 11.26 points or 0.77%, from Thursday’s closing of 1,465.93.
The market bellwether opened 1.97 points higher at 1,467.90, and moved in a tight range at between 1,466.76 and 1,477.42 throughout the day.
Market breadth was also positive with gainers trouncing losers 578 to 390, while 370 counters were unchanged, 917 untraded, and 12 others suspended.
Turnover rose to 3.24 billion units worth RM1.94 billion from yesterday’s 3.19 billion units worth RM1.83 billion.
Hong Leong Investment Bank (HLIB) Research said the FBM KLCI may consolidate ahead of the US Federal Open Market Committee (FOMC) meeting from Dec 13 to 14 and a vote of confidence for Prime Minister Anwar Ibrahim when Parliament convenes on Dec 19.
“However, the downside risk may be cushioned by expectations of further economic reopening in China, depressed valuation on Bursa Malaysia, strengthening political stability on signing of coalition agreement involving all parties in the unity government, coupled with the expectations of year-end window dressing,” it said in a research note today.
Regionally, Singapore’s Straits Times index advanced 0.16% to 3,241.20, Japan’s Nikkei 225 index rose 1.18% to 27,901.01, Hong Kong’s Hang Seng index increased 2.32% to 19,900.87, while China’s SSE Composite index gained 0.30% to 3,206.95.
On the home front, heavyweights Maybank improved seven sen to RM8.69, Petronas Chemicals jumped 12 sen to RM8.53, CIMB bagged four sen to RM5.65, TNB put on 18 sen to RM9.33, IHH Healthcare soared 15 sen to RM6, and Public Bank was flat at RM4.41.
Of the actives, Sapura Energy and Dataprep edged up half-a-sen each to 4.5 sen and 31 sen, respectively, PT Resources was six sen higher at 49.5 sen, Infomina increased three sen to RM1.12, while both Borneo Oil and Advance Synergy were flat at 2.5 sen and 16.5 sen, respectively.
On the index board, the FBM emas index increased 82.80 points to 10,607.41, the FBMT 100 index climbed 80.20 points to 10,308.85, the FBM 70 surged 107.09 points to 12,946.22, the FBM emas shariah index chalked up 98.90 points to 10,788.17, and the FBM ACE was 15.48 points higher at 5,517.50.
Sector-wise, the financial services index rose 75.22 points to 16,495.04, the industrial products and services index perked up 1.16 points to 181.59, the plantation index ticked down 4.91 points to 6,727.88, while the energy index was up 2.79 points to 777.90.
The Main Market volume declined slightly to 2.05 billion shares worth RM1.51 billion from Thursday’s 2.07 billion shares worth RM1.55 billion.
Warrants turnover improved to 375.28 million units valued at RM81.72 million from 352.7 million units valued at RM76.1 million yesterday.
The ACE Market volume expanded to 818.50 million shares worth RM345.3 million from 763.30 million shares worth RM209.50 million previously.
Consumer products and services counters accounted for 300.26 million shares traded on the Main Market, industrial products and services (671.53 billion); construction (53.97 million); technology (241.94 million); SPAC (nil), financial services (89.79 million); property (103.58 million); plantation (20.09 million); REITs (5.02 million), closed/fund (26,000); energy (387.68 million); healthcare (91.72 million); telecommunications and media (19.61 million); transportation and logistics (42.90 million); and utilities (20.06 million).
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