KUALA LUMPUR, April 26 — Bursa Malaysia closed broadly higher as investors took the opportunity to bargain hunt for cheaper stocks following yesterday’s decline.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.70 points or 0.42 per cent to 1,596.68 from yesterday’s close of 1,589.98.
The index opened 9.74 points firmer at 1,599.72 and moved between 1,592.47 and 1,602.69 throughout the day.
On the broader market, gainers beat losers 506 to 393, while 455 counters were unchanged, 936 untraded, and 27 others suspended.
Total turnover fell to 2.25 billion units worth RM1.92 billion from 3.13 billion units worth RM2.63 billion yesterday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional markets were mixed despite positive cue on Wall Street overnight as investors were wary of the Covid-19 situation in Shanghai, China, which may spur further lockdowns.
“Back home, we remain cautious over the short term due to the heightened regional market volatility,” he told Bernama.
Meanwhile, Thong said the 1,600-level remained a strong resistance for the FBM KLCI.
Moreover, he said the broad market sentiment was still jittery and anxious that an aggressive pace of the United States (US) Federal Reserve’s tightening could hinder the global economic recovery and growth.
“As such, we expect the benchmark index to remain sideways, hovering at the 1,580-1,600 range for the remainder of the week, with immediate resistance at 1,615 and support at 1,580,” he added.
Across the region, the Singapore Straits Times Index fell 0.53 per cent to 3,322.05, Shanghai’s SSE Composite sank 1.44 per cent to 2,886.43, Japan’s Nikkei 225 rose 0.41 per cent to 26,700.11, South Korea’s Kospi increased 0.42 per cent to 2,668.31, and Hong Kong’s Hang Seng Index climbed 0.33 per cent to 19,934.71.
On the local bourse, heavyweights Maybank gained six sen to RM8.95, Public Bank rose one sen to RM4.72, Petronas Chemicals inched up 10 sen to RM10.22, IHH Healthcare added nine sen to RM6.65, and CIMB perked up three sen to RM5.19.
Of the actives, Techna-X, Yong Tai and Sapura Energy were all flat at 11 sen, 10.5 sen and four sen, respectively, MNC Wireless lost half-a-sen to 2.5 sen, while Widad added half-a-sen to 36 sen.
On the index board, the FBMT 100 Index gained 55.47 points to 11,077.13, the FBM Emas Index was 55.52 points higher at 11,421.12, the FBM Emas Shariah Index climbed 52.29 points to 11,994.36, the FBM 70 jumped 105.05 points to 13,648.11, and the FBM ACE put on 35.50 points to 5,618.41.
Sector-wise, the Financial Services Index advanced 91.93 points to 16,834.49, the Industrial Products and Services Index perked up 0.01 of-a-point to 210.13 but the Plantation Index slid 59.13 points to 8,788.46.
The Main Market volume eased to 1.46 billion shares worth RM1.76 billion compared with 2.06 billion shares worth RM2.39 billion yesterday.
Warrants turnover shrank to 351.29 million units valued at RM52.98 million against 445.72 million units valued at RM76.56 million.
The ACE Market volume dwindled to 431.23 million shares worth RM111.73 million versus 620.59 million shares worth RM159.18 million previously.
Consumer products and services counters accounted for 257.93 million shares traded on the Main Market, industrial products and services (381.70 million), construction (77.36 million), technology (99.87 million), SPAC (nil), financial services (61.27 million), property (174.81 million), plantation (87.17 million), REITs (5.18 million), closed/fund (43,600), energy (220.17 million), healthcare (38.38 million), telecommunications and media (16.15 million), transportation and logistics (27.54 million), and utilities (18.66 million). — Bernama
