KUALA LUMPUR, Aug 30 — Bursa Malaysia closed sharply higher as the global geopolitical environment continued to recover.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 16.96 points to close at its intra-day high of 1,612.14 after trading between it and the lowest point of 1,601.59.
The market barometer opened 7.06 points higher at 1,602.24.
Phillip Capital Management senior vice president (investment) Datuk Nazri Khan Adam Khan said China softened its tone on Thursday to prevent trade tensions from escalating further as both parties are expected to resume another round of trade talks in September ahead of a looming deadline for additional US tariffs on Chinese goods.
“We expect the following improved sentiment on the trade war will send the local market higher ahead of the long weekend holiday,” he told Bernama.
Among heavyweights, Maybank perked 12 sen to RM8.69, TNB and Petronas Chemicals rose 16 sen each to RM13.96 and RM6.93 respectively and IHH climbed two sen to RM5.79.
Public Bank was flat at RM20.32.
As for actives, Bumi Armada added 3.5 sen to 25.5 sen and Vsolar and TH Heavy Engineering gained half-a-sen each to 14 sen and 6.5 sen respectively.
KNM lost one sen to 38 sen while MN Wireless was flat at eight sen.
The FBM Emas Index jumped 125.35 points to 11,348.5, the FBMT100 Index was 128.51 points higher at 11,190.63 and the FBM Emas Shariah Index rose 133.52 points to 11,912.05.
The FBM Ace eased 22.19 points to 4,488.2 and the FBM 70 surged 204.8 points to 13,944.71.
Sector-wise, the Financial Services Index rose 179.47 points to 15,550.02, the Plantation Index expanded 71.69 points to 6,889.48, and the Industrial Products and Services Index was 1.82 points higher at 148.68.
Market breadth was positive as gainers outpaced losers 517 to 322, with 395 counters unchanged, 753 untraded and 71 others suspended.
Turnover was higher at 2.22 billion units worth RM2 billion from yesterday’s 1.99 billion units worth RM1.66 billion. — MORE
Main Market volume rose to 1.48 billion shares valued at RM1.85 billion from yesterday’s 1.14 billion shares valued at RM1.47 billion.
Warrants turnover decreased to 482.86 million units worth RM102.75 million from yesterday’s 557.23 million units worth RM123.82 million.
Volume on the ACE Market contracted to 248.34 million shares valued at RM47.17 million from 297.79 million shares valued at RM69.45 million previously.
Consumer products and services accounted for 182.32 million shares traded on the Main Market, industrial products and services (157.23 million), construction (64.37 million), technology (133.16 million), SPAC (nil), financial services (54.09 million), property (113.8 million), plantations (13.15 million), REITs (9.23 million), closed/fund (2,000), energy (627.46 million), healthcare (31.05 million), telecommunications and media (46.46 million), transportation and logistics (28.84 million), and utilities (26.75 million). — Bernama
