KUALA LUMPUR, Feb 23 — Bursa Malaysia snapped a three-day losing streak to end higher today on persistent buying interest in financial services as well as industrial products and services counters, amid mixed sentiments on the regional markets, dealer said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.58 per cent or 9.18 points to 1,586.14 from yesterday’s close of 1,576.96.

The index, which opened 5.30 points firmer at 1,582.26, moved between 1,579.94 and 1,592.34 throughout the session.

The overall market breadth was positive with gainers overwhelming losers 621 to 372, while 402 counters were unchanged, 863 untraded, and 18 others suspended.

Total turnover dwindled to 2.97 billion units worth RM2.68 billion from 4.33 billion units worth RM3.16 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional bourses were mixed despite the intensifying crisis surrounding Ukraine as investors viewed the United States sanctions on Russia as less-than-feared by the market.

On the domestic front, he said the FBM KLCI rebounded after three days of correction and it is likely to move upwards as buying from foreign funds are expected to resume, given the cheaper valuations of local equities as compared to regional peers.

“As such, we anticipate the FBM KLCI to move within the 1,580-1,590 range for the remainder of the week, with immediate resistance at 1,600 and support at 1,570,” he told Bernama.

Local heavyweights, Maybank and CIMB added five sen each to RM8.77 and RM5.55 respectively, Public Bank rose two sen to RM4.36, Petronas Chemicals gained nine sen to RM9.23, and IHH Healthcare was unchanged at RM6.30.

As for the actives, DNeX expanded nine sen to RM1.21, SMTrack eased 1.5 sen to 24 sen, MSM Malaysia dropped 23.5 sen to 88.5 sen, and MYEG put on 5.0 sen to 97 sen.  

On the index board, the FBM ACE increased 71.94 points to 6,098.09, FBM 70 climbed 148.13 points to 13,535.19, FBM Emas Index added 85.59 points to 11,329.09, FBMT 100 Index firmed 76.01 points to 10,996.34, and the FBM Emas Shariah Index rose 108.31 points to 12,032.29.

Sector-wise, the Financial Services Index put on 70.87 points to 16,339.20 and the Plantation Index gained 89.81 points to 7,870.04, while the Industrial Products and Services Index was 1.67 points higher at 209.78.

The Main Market volume declined to 2.13 billion shares worth RM2.47 billion from 2.78 billion shares worth RM2.86 billion yesterday.

Warrants turnover shrank to 244.38 million units worth RM28.12 million against 429.19 million units worth RM47.45 million yesterday.

The ACE Market volume slid to 586.00 million shares valued at RM185.72 million versus 1.11 billion shares valued at RM256.42 million previously.

Consumer products and services counters accounted for 380.48 million shares traded on the Main Market, industrial products and services (525.05 million), construction (104.57 million), technology (392.81 million), SPAC (nil), financial services (65.90 million), property (185.79 million), plantation (130.23 million), REITs (7.40 million), closed/fund (10,000), energy (166.83 million), healthcare (83.30 million), telecommunications and media (40.99 million), transportation and logistics (33.43 million), and utilities (22.56 million). — Bernama