KUALA LUMPUR, Dec 23 — Bursa Malaysia extended yesterday’s gains to end the week higher today supported by the local institutions despite the weak regional market sentiment, said an analyst.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.43 per cent or 6.33 points to 1,474.68 from yesterday’s closing of 1,468.35.
The market bellwether, which opened 0.81 of-a-point better at 1,469.16, moved between 1,460.57 and 1,474.87 throughout the day.
On the broader market, losers led gainers 430 to 393, while 416 counters were unchanged, 1,030 untraded and 13 others suspended.
Turnover was reduced to 2.12 billion units worth RM1.23 billion versus 2.50 billion units worth RM1.33 billion yesterday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed mostly lower today following the negative cues from Wall Street overnight.
“The dollar firmed as strong United States data revived fears the Federal Reserve will have to retain its hawkish stance to tame inflation,” he told Bernama.
Meanwhile, SPI Asset Management managing partner Stephen Innes said the FBM KLCI reversed early morning losses after a technically driven sell-off in the US markets triggered early morning risk aversion.
“Sentiment in Asia remains buoyant boosted by Chinese policymaker’s pledge to support the broader economy during the reopening processes,” he said.
Bursa Malaysia heavyweight Maybank added seven sen to RM8.78, Public Bank gained four sen to RM4.44, IHH Healthcare climbed 15 sen to RM6.15, CIMB fell four sen to RM5.74 and Petronas Chemicals was flat at RM8.40.
Of the actives, Top Glove bagged 6.5 sen to 82 sen, Careplus was 3.5 sen up to 46 sen and Sunview ticked up two sen to 63 sen, while Advance Synergy eased half-a-sen to 17.5 sen and Yew Lee Pacific declined two sen to 38 sen.
On the index board, the FBM Emas Index was up by 49.39 points to 10,589.29, the FBM Emas Shariah Index rose 58.05 points to 10,707.72, the FBM 70 Index improved 96.73 points to 12,981.61 and the FBMT 100 Index earned 51.52 points to 10,301.19.
However, the FBM ACE Index slipped 20.98 points to 5,480.67.
Sector-wise, the Industrial Products and Services Index ticked up 0.42 of-a-point to 178.92 and the Financial Services Index grew by 72.52 points to 16,624.03, while the Plantation Index dropped 36.77 points to 6,785.23 and the Energy Index was down 0.08 of-a-points to 781.75.
The Main Market volume contracted to 1.24 billion shares worth RM935.17 million against 1.44 billion shares worth RM986.39 million yesterday.
Warrants turnover shrank to 334.63 million units valued at RM61.64 million versus 365.20 million units valued at RM90.05 million yesterday.
The ACE Market volume dropped to 543.45 million shares worth RM235.02 million compared with 694.25 million shares worth RM252.66 million previously.
Consumer products and services counters accounted for 187.72 million shares traded on the Main Market, industrial products and services (331.83 million); construction (49.46 million); technology (201.98 million); SPAC (nil), financial services (25.46 million); property (48.26 million); plantation (10.02 million); REITs (3.28 million), closed/fund (10,000); energy (85.77 million); healthcare (241.49 million); telecommunications and media (13.46 million); transportation and logistics (27.13 million); and utilities (11.16 million). — Bernama
