KUALA LUMPUR: Bursa Malaysia closed trading on the first day of the second half of the yr (H2 2024) firmer, consistent with the bettering efficiency of regional friends with shopping for primarily within the monetary service shares.
UOB Kay Hian Wealth Advisors head of funding analysis Sedek Jantan mentioned this optimistic consequence was pushed by the upbeat manufacturing sector information from a number of regional markets, together with Malaysia.
“Optimistic home enterprise sentiment readings from Japan additionally contributed to this development.
“Sentiment amongst merchants has been bullish following the discharge of the US Personal Consumption Expenditures Price Index information, which confirmed modest enchancment in May, marking a optimistic begin for the Malaysian market in H2 2024,” he informed eNM.
Meanwhile, Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng mentioned the worldwide highlight is on the US Federal Reserve’s potential fee cuts after the info launched on Friday indicated that US month-to-month inflation was unchanged in May.
As for the native bourse, Thong mentioned he’s optimistic concerning the market sentiment given the bettering macroeconomic information.
“Barring unexpected circumstances, we anticipate the FTSE Bursa Malaysia KLCI (FBM KLCI) to development inside the vary of 1,590-1,610 for the week,” he added.
At 5pm, the FBM KLCI rose 0.51% or 8.11 factors to 1,598.20 from Friday’s shut of 1,590.09.
The benchmark index, which opened 0.17 of-a-point firmer at 1,590.26, moved between 1,587.03 and 1,598.36 all through the trading session.
On the broader market, gainers thumped decliners 685 to 408, with 450 counters unchanged, 831 untraded, and 5 others suspended.
Turnover declined to three.66 billion items price RM2.77 billion from final week’s 4.3 billion items price RM3.08 billion.
Among the heavyweights, Maybank and Public Bank rose one sen every to RM9.97 and RM4.03, Tenaga Nasional elevated 22 sen to RM14 and CIMB added three sen to RM6.83. IHH Healthcare was flat at RM6.30.
As for probably the most energetic counters, SNS Network and JCY International had been 8.5 sen firmer at 84 sen and 79 sen respectively, Nova and EA Technique gained 2.5 sen every to 24 sen and 36.5 sen, whereas MyEG dropped 2.5 sen to 99.5 sen.
On the index board, the FBM Emas Index elevated 66.05 factors to 12,282.45, the FBMT 100 Index garnered 60.29 factors to 11,858.35, the FBM Emas Shariah Index rose 72.29 factors to 12,624.99, the FBM 70 Index surged 91.69 factors to 17,933.58, and the FBM ACE Index gained 85.68 factors to five,858.96.
Sector-wise, the monetary companies index inched up 41.78 factors to 17,496.51, the vitality index perked up 15.23 factors to 970.65, the commercial services and products index edged up 0.94 of-a-point to 196.79, and the plantation index climbed 28.64 factors to 7,011.36.
The Main Market quantity was marginally greater at 2.4 billion items valued at RM2.39 billion from 2.37 billion items valued at RM2.69 billion on Friday.
Warrants turnover weakened to 322.21 million items price RM36.42 million in contrast with 1.09 billion items price RM135.71 million beforehand.
The ACE Market quantity expanded to 933.27 million shares valued at RM342.74 million in opposition to 841.89 million shares valued at RM256.32 million final week.
Consumer services and products counters accounted for 354.35 million shares traded on the Main Market; industrial services and products (636.85 million), building (176.77 million); know-how (412.73 million); SPAC (nil); monetary companies (60.15 million); property (298.37 million), plantation (36.41 million), REITs (20.13 million), closed/fund (37,400), vitality (150.2 million); healthcare (46.54 million); telecommunications and media (43.97 million); transportation and logistics (85.14 million); utilities (80.19 million); and enterprise trusts (3.16 million).
