KUALA LUMPUR, June 14 — The FTSE Bursa Malaysia KLCI (FBM KLCI) snapped its eight-day losing streak to end in positive territory today, rising by 1.12 per cent as bargain-hunting activities emerged following the heavy sell-down recently, a dealer said.
At 5pm, the barometer index rose 16.45 points to 1,481.28 from Monday’s close of 1,464.83.
The FBM KLCI opened 6.97 points lower at 1,457.86, but turned higher at mid-morning and moved between its year-to-date low of 1,451.18 and 1,481.72 throughout the day.
On the broader market, losers and gainers were neck and neck at 483 to 482, respectively, while 422 counters were unchanged, 876 untraded, and nine others suspended.
Total turnover declined to 2.72 billion units worth RM2.11 billion from 3.27 billion units worth RM2.26 billion on Monday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said nevertheless, investors remained cautious, believing the near-term direction of the local market would still be very much dependent on the regional volatility.
“Key regional markets are mostly in negative territory following negative cues from Wall Street overnight as bond yields struck a two-decade high on fears that aggressive United States interest rate hikes would push the world’s largest economy into recession.
“As such, we anticipate the FBM KLCI to hover in the 1,460-1,490 range for the remainder of the week with immediate support at 1,450 and resistance at 1,490,” he told Bernama.
Among the Bursa heavyweights, Maybank stayed flat at RM8.68, Public Bank added three sen to RM4.51, Petronas Chemicals rose 10 sen to RM9.66, and IHH Healthcare increased eight sen to RM6.30.
Of the actives, Unitrade eased two sen to 30 sen, Dagang NeXchange and Yong Tai edged up half-a-sen each to 91 sen and nine sen, and Top Glove and Yew Lee remained flat at RM1.03, and 29.5 sen, respectively.
On the index board, the FBM Emas Index was 94.37 points higher at 10,571.57, the FBM Emas Shariah Index rose 122.56 points to 10,803.21, the FBM 70 added 41.92 points to 12,721.54, the FBMT 100 Index advanced 95.50 points to 10,287.89, and the FBM ACE gained 22.92 points to 4,939.58, Sector-wise, the Financial Services Index increased 73.99 points to 16,253.90, the Plantation Index improved 167.40 points to 7,550.31, and the Industrial Products and Services Index edged up 1.62 points to 190.44.
The Main Market volume fell to 1.57 billion shares worth RM1.82 billion from 1.83 billion shares worth RM2.02 billion on Monday.
Warrants turnover shrank to 446.63 million units valued at RM82.25 million against 673.16 million units valued at RM96.12 million previously.
The ACE Market volume decreased to 705.26 million shares worth RM211.23 million from 759.65 million shares worth RM144.19 million yesterday.
Consumer products and services counters accounted for 227.09 million shares traded on the Main Market, industrial products and services (410.06 million), construction (50.68 million), technology (207.03 million), SPAC (nil), financial services (67.76 million), property (141.68 million), plantation (55.69 million), REITs (8.45 million), closed/fund (5,000), energy (186.48 million), healthcare (131.19 million), telecommunications and media (32.06 million), transportation and logistics (30.86 million), and utilities (20.24 million). — Bernama
