KL shares end higher as trade war fears ease

KUALA LUMPUR, March 6 — Shares on Bursa Malaysia ended the day higher due to improved market sentiment as worries over a possible United States-led trade war eases.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 5.75 points better at 1,848.37 from 1,842.62 at yesterday’s close.

After opening 5.56 points better at 1,848.18 this morning, the index hovered between 1,845.76 and 1,850.18 throughout the day.

In a note, Kenanga Research said market players were now betting that US President Donald Trump would back down on his planned imposition of tariffs on steel and aluminium, thus diminishing fears of a trade war.

“Furthermore, the Trump’s administration’s recent tariff increases on the aluminium and steel imports would have a minimal impact as exports of both metals only represented a fraction of Malaysia’s total exports,” it added.

Market breadth was positive as gainers led losers 529 to 438 with 406 counters unchanged, 500 untraded and 21 others suspended.

Volume rose to 2.76 billion units worth RM2.77 billion from 2.62 billion units worth RM2.4 billion on Monday.

Among heavyweights, Maybank rose eight sen to RM10.50, Public Bank gained 10 sen to RM23, Tenaga eased two sen to RM15.64, and CIMB was flat at RM7.20.

Among the active counters, HB Global added 2.5 sen to 27 sen, NWP rose 5.5 sen to 18.5 sen and ACE Market debutant was half-a-sen higher at 29.5 sen.

The FBM Emas Index increased 28.93 points to 13,070.8, the FBMT 100 Index was 27.67 points higher at 12,799.81 and the FBM Emas Shariah Index rose 36.68 points to 13,259.94.

The FBM 70 fell 7.39 points to 15,729.11 and the FBM Ace edged up 19.76 points to 6,043.38.

Sector-wise, the Industrial Index fell 4.85 points to 3,202.53, the Plantation Index garnered 13.9 points to 8,089.76 and the Finance Index was 87.93 points higher at 18,124.59.

The Main Market volume increased to 1.8 billion units worth RM2.62 billion from 1.45 billion units worth RM2.23 billion yesterday.

Volume on the ACE Market decreased to 525.27 million shares valued at RM85.22 million from 574.31 million shares valued at RM80.71 million.

Warrants’ volume fell to 425.26 million units worth RM71.28 million from 586.76 million units worth RM87.04 million previously.

Consumer products accounted for 403.55 million shares traded on the Main Market, industrial products (487.16 million), construction (64.09 million), trade and services (514.06 million), technology (113.93 million), infrastructure (7.23 million), SPAC (622,000), finance (69.04 million), hotels (514,600), properties (103.37 million), plantations (24.62 million), mining (249,400), REITs (12.93 million), and closed/fund (11,000). — Bernama