KUALA LUMPUR, Oct 30 — Bursa Malaysia ended firmer after volatile trading today, backed by buying in index-linked counters led by CIMB.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 2.21 points better at 1,580 from Tuesday’s close of 1,577.79.
The key index, which opened 5.21 points higher at 1,583 this morning, fluctuated between 1,575.33 and 1,583 throughout the day.
CIMB lifted the composite index by 1.028 points, rising six sen to RM5.09 with 15.13 million shares changing hands.
Phillip Capital Management senior vice president (investment) Datuk Dr Nazri Khan Adam Khan said the local market moved higher on US-China trade optimism, coupled with the expectation of a US interest rate cut.
“Investors are perking up, looking for more bullish clues ahead of a crucial US Federal Reserve (Fed) meeting which will end on Wednesday (today) as the central bank is widely expected to lower interest rates at least by another 25 basis points.
“Moreover, the developments of the Sino-US trade talks remained in focus as Washington considers extending specific tariff exclusions on US$34 billion worth of imports from China,” he told Bernama.
The rate reduction, set to be announced later in the day, would mark the Fed’s third rate cut for this year.
Asian equity markets were mixed with Singapore’s Straits Times Index gaining 0.29 per cent to 3,206.16, Indonesia’s Jakarta Composite Index added 0.23 per cent to 6,295.75, while Japan’s Nikkei 225 fell 0.57 per cent to 22,843.12, and Hong Kong’s Hang Seng Index lost 0.44 per cent to 26,667.71.
On the broader local market, losers outnumbered gainers 469 to 328, while 418 counters were unchanged, 782 untraded and 50 others suspended.
Volume decreased marginally to 2.27 billion shares worth RM1.71 billion from 2.3 billion shares worth RM1.91 billion on Tuesday.
IFCA MSC was the most actively traded stock today, gaining one sen to 50.5 sen with 109.07 million shares done, followed by Velesto which slipped one sen to 36 sen, while Mudajaya rose 13 sen to 34 sen and MyEG fell eight sen to RM1.06.
The FBM Emas Index decreased 5.6 points to 11,194.02, the FBMT 100 Index shed 4.68 points to 11,005.65, the FBM Ace erased 41.83 points to 4,886.29, the FBM Emas Shariah Index declined 18.28 points to 11,797.73, and the FBM 70 was 88.59 points lower at 13,872.21
Sector-wise, the Financial Services Index rose 49.97 points to 15,320.14, but the Plantation Index gave up 22.36 points to 6,670.94 while the Industrial Products & Services Index slipped 0.09 of-a-point to 153.06.
Main Market volume shrank to 1.49 billion shares worth RM1.72 billion from 1.52 billion shares valued at RM1.72 billion on Tuesday.
Warrants turnover decreased to 255.82 million units worth RM39.86 million against 313.59 million units valued at RM60.03 million yesterday.
Volume on the ACE Market narrowed to 519.05 million units worth RM150.05 million compared with 564.46 million units valued at RM131.02 million previously.
Consumer products and services accounted for 209.2 million shares traded on the Main Market, industrial products and services (191.35 million), construction (252.89 million), technology (217.64 million), SPAC (nil), financial services (50.29 million), property (147.78 million), plantations (11.65 million), REITs (9.18 million), closed/fund (87,000), energy (287.65 million), healthcare (24.92 million), telecommunications and media (54.86 million), transportation and logistics (18.59 million), and utilities (18.44 million). — Bernama
