KUALA LUMPUR: Bursa Malaysia ended firmer right now as bargain-hunting activities emerged following Tuesday’s profit-taking.
The native bourse bucked the regional pattern which was principally decrease as traders digested the US Federal Reserve’s choice to take care of its key rate of interest yesterday, stated an analyst.
In addition, a supplier stated Bursa opened simpler right now earlier than turning blended at mid-morning because the barometer index moved into the constructive territory to finish larger, supported by shopping for in chosen heavyweights.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng stated the important thing regional indices trended decrease following blended cues from Wall Street in a single day.
Nonetheless, he famous that Hong Kong’s bourse recorded sturdy positive aspects as traders celebrated the elimination of further restrictions on the struggling property market.
At the identical time, he stated China’s electrical automobile makers rose sharply after clocking sturdy supply figures for April, with Nio Inc main positive aspects as deliveries greater than doubled from final yr.
“On the home entrance, our view on the native fairness market remained optimistic, underpinned by its compelling valuations and regular overseas influx.
“As such, we foresee the benchmark index to maneuver inside the 1,580-1,590 vary in the direction of the weekend,” he advised eNM.
Regionally, Japan’s Nikkei 225 edged down 0.10% to 38,236.07, South Korea’s Kospi slipped 0.31% to 2,683.65, and China’s SSE Composite Index slid by 0.26% to three,104.82.
Hong Kong’s Hang Seng Index rose 2.5% to 18,207.13 and Singapore’s Straits Times Index improved 0.07% to three,294.87.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.33 factors or 0.28% to 1,580.30 from Tuesday’s shut of 1,575.97.
The benchmark index opened one level simpler at 1,574.97 and moved between 1,574.27 and 1,582.68 all through the day.
However, on the broader market, decliners outpaced gainers 620 to 530, whereas 464 counters had been unchanged, 676 untraded, and 18 others suspended.
Turnover declined to three.81 billion models value RM3.06 billion from 4.18 billion models value RM3.75 billion on Tuesday.
Back house, heavyweights Maybank added 5 sen to RM9.78, CIMB gained 3 sen to RM6.64, and Tenaga Nasional rose 6 sen to RM12.02.
Public Bank shed 2 sen to RM4.10 and IHH Healthcare was flat at RM6.33.
As for the actives, MyEG slid 3 sen to 90.5 sen, Iconic Worldwide warrant eased 0.5 sen to 4 sen, Top Glove and Velesto shed 1 sen every to 87 sen and 26 sen respectively, and Binapuri was flat at 7.5 sen.
On the index board, the FBM Emas Index gained 23.83 factors to 11,896.09, the FBMT 100 Index climbed 22.1 factors to 11,524.83, the FBM Emas Shariah Index garnered 27.65 factors to 12,113.59, and the FBM ACE Index superior 30.98 factors to five,107.68.
The FBM 70 Index slipped 7.06 factors to 16,614.19.
Sector-wise, the monetary providers index elevated 29.11 factors to 17,243.26, the plantation index added 18.43 factors to 7,455.19 and the economic services and products index edged up 0.89 of-a-point to 190.03, whereas the vitality index gave up 11.72 factors to 963.94.
The Main Market quantity fell to 2.14 billion models valued at RM2.7 billion versus 2.82 billion models valued at RM3.41 billion on Tuesday.
Warrants turnover surged to 1.19 billion models value RM157.99 million in opposition to 865.71 million models value RM125.79 million beforehand.
The ACE Market quantity dipped to 478.56 million shares value RM196.65 million from 500.9 million shares value RM207.06 million on Tuesday.
Consumer services and products counters accounted for 433.19 million shares traded on the Main Market, industrial services and products (385.15 million), building (176.61 million), expertise (300.75 million), SPAC (nil), monetary providers (106.14 million), property (235.76 million), plantation (53.11 million), REITs (18.41 million), closed/fund (38,000), vitality (149.53 million), healthcare (117.42 million), telecommunications and media (50.14 million), transportation and logistics (33.91 million), utilities (73.75 million), and enterprise trusts (2.97 million).
