KUALA LUMPUR, Aug 9 — Bursa Malaysia ended marginally higher amid mixed Asian markets, thanks to the continued foreign fund inflows and improving crude oil prices.

A dealer said the local market mood remained upbeat, judging from the net foreign buying worth RM229.6 million yesterday, which was also the largest inflow in a day for this month.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 0.22 of-a-point, or 0.012 per cent, at 1,804.95 from Wednesday’s close of 1,804.73.

The index opened 1.19 points lower at 1,803.54 and hovered between 1,803.0 and 1,811.29 throughout the day.

Market breadth was positive, with gainers outpacing losers 480 to 432, while 420 were unchanged, 550 untraded and 32 others suspended.

Volume, however, slid to 2.30 billion valued at RM2.28 billion from 2.77 billion units worth RM2.70 billion on Wednesday.

Regionally, the Singapore’s Straits Times Index dropped 0.40 per cent to 3,326.74, Japan’s Nikkei erased 0.20 per cent to 22,598.39, but China’s Shanghai Composite Index went up 1.83 per cent to 2,794.38.

The dealer said the country’s encouraging corporate earnings, coupled with the nearing of Pakatan Harapan (PH) government’s 100-day fiscal reforms milestone on Aug 17, were the main reasons that drew buying interest from international investors.

“Investors expect more clarity and stability (arising) from the policies pledged by the PH administration as the 100-day mark is approaching.

“Moreover, the RM223.4 million of net foreign purchase seen on Tuesday and RM229.6 million yesterday signalled that the market is moving towards a bullish side,” he said, adding that the rally in crude oil prices was also a good news for Malaysia as it is a net exporter of oil and gas.

Meanwhile, Kenanga Research, in a note, said technically, the benchmark index had been on a bullish run since mid-July.

“However, we are watchful because stochastic indicators had been in the overbought territory without any correction over the past two weeks,” it said.

The research house did not discount the possibility of a correction that might see retracement towards the support levels of 1,750- point and 1,720-point.

“Should it be able to break out from the 1,830-point of resistance level, it may then signal a continuation of a bullish run, as next resistance level is at 1,890- point.” it added.

Among heavyweights, Public Bank rose eight sen to RM24.40, Tenaga added 20 sen to RM15.78, Petronas Chemicals was 16 sen higher at RM9.20, CIMB edged up one sen to RM5.93, while Maybank was flat at RM9.90.

Of the actives, Frontken gained two sen to 70 sen, QES ticked up one sen to 24 sen, Barakah advanced 1.5 sen to 16.5 sen, while MyEG and Radiant Globaltech remained unchanged at RM1.23 and 38.5 sen, respectively.

Panasonic Manufacturing led the top gainers list by putting on 72 sen to RM39.98, followed by Scientex, bagged 46 sen to RM8.65, Vitrox perked 43 sen to RM7.23, Far East accumulated 28 sen to RM14.48, and Hong Leong Financial was 26 sen better at RM18.26.

The FBM Ace Index was 40.83 points firmer at 5,501.57 but the FBM Emas Index declined 2.59 points to 12,766.88.

The FBM Emas Shariah Index fell 12.13 points to 12,939.28, the FBMT 100 Index slid 6.53 points to 12,543.71 and the FBM 70 was 38.02 points lower at 15,594.19.

Sector-wise, the Finance Index climbed 10.91 points to 17,581.45 but the Plantation Index gave up 6.82 points to 7,704.18 and the Industrial Index was down 26.01 points to 3,275.58.

Main Market volume reduced to 1.47 billion shares valued at RM2.06 billion from 1.78 billion shares worth RM2.47 billion on Wednesday.

Warrants turnover was higher at 443.42 million units valued at RM101.92 million compared with 420.96 million units worth RM86.78 million yesterday.

Volume on the ACE Market fell to 385.04 million shares valued at RM117.24 million versus 565.34 million shares worth RM147.16 million yesterday.

Consumer products accounted for 96.70 million shares traded on the Main Market, industrial products (290.21 million), construction (131.75 million), trade and services (558.17 million), technology (163.41 million), infrastructure (6.51 million), SPAC (41,400), finance (54.96 million), hotels (552,900), properties (148.57 million), plantations (23.14 million), mining (12,700), REITs (4.99 million), and closed/fund (30,500). — Bernama