KUALA LUMPUR: Bursa Malaysia ended higher for the fourth consecutive day with the important thing index rising 0.78%, monitoring the largely higher efficiency in regional markets.
Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng stated the main regional indices ended largely higher as worries over an expanded battle within the Middle East eased, prompting traders to re-embrace riskier belongings.
“Gold and the historically safe-haven greenback retreated from their current highs, whereas crude oil costs fell amid diminishing considerations over a big provide disruption.
“Additionally, the People’s Bank of China opted to take care of its benchmark mortgage prime price at traditionally low ranges at this time, signalling its dedication to sustaining accommodative financial situations to bolster financial restoration,” he advised eNM.
Meanwhile, UOB Kay Hian Wealth Advisors’ designated portfolio supervisor and head of wealth analysis and advisory, Sedek Jantan stated the FTSE Bursa Malaysia KLCI (FBM KLCI) soared at this time, successfully restoring its pre-Iran strike stage, and showcasing the native market’s resilience amid global uncertainties.
“Moreover, the current upward revision of Malaysia’s gross home product figures by the International Monetary Fund (IMF) to 4.4% underscores the nation’s financial power and potential, instilling confidence amongst traders.
“This constructive adjustment is poised to inject a way of stability into the market, fostering a conducive setting for progress and prosperity,” he stated.
Sedek stated he expects higher market volatility this week because of the earnings releases of distinguished US know-how giants together with Tesla, Meta, IBM, Microsoft, Alphabet, and Intel.
“While these disclosures could introduce short-term fluctuations, it’s crucial to acknowledge that the regional markets, buoyed by burgeoning synthetic intelligence-related optimism, stand well-positioned to climate any turbulence,” he added.
As for the native bourse, he stated there’s a shift in sentiment in the direction of a extra constructive course presently.
He anticipates the benchmark index to development throughout the 1,540-1,570 vary for the week with rapid resistance at 1,570 and assist at 1,540.
At 5pm, FBM KLCI rose 12.02 factors to 1,559.59 from final Friday’s shut of 1,547.57.
The benchmark index, which opened one level firmer at 1,548.57, moved between 1,548.38 and 1,559.94 all through the buying and selling session.
On the broader market, gainers thumped decliners 764 to 331, whereas 420 counters had been unchanged, 858 untraded, and 24 others suspended.
Turnover fell to three.49 billion items price RM2.53 billion from 4.71 billion items price RM3.4 billion final Friday.
Among the heavyweights, Maybank gained 9 sen to RM9.74, Public Bank added 5 sen to RM4.20, CIMB went up six sen to RM6.62, Tenaga Nasional rose 4 sen to RM11.64, however Petronas Chemicals eased two sen to RM6.81.
As for the actives, Main Market debutant Keyfield International surged RM1.03 sen to RM1.93, Reneuco and Dataprep placed on 1.5 sen every to 9 sen and 13.5 sen respectively, Pan Malaysia was 0.5 sen higher at 21.5 sen, whereas Bina Puri inched down 0.5 sen to 7.5 sen.
On the index board, the FBM Emas Index jumped 87.55 factors to 11,683.62, the FBM 70 Index soared 96.54 factors to 16,154.93, the FBMT 100 Index superior 82.29 factors to 11,330.24, the FBM Emas Shariah Index climbed 65.54 factors to 11,835.41, and the FBM ACE Index garnered 70.36 factors to 4,929.34.
Sector-wise, the plantation index rose 40.54 factors to 7,416.19, the economic services and products index inched up 0.59 of-a-point to 185.08, the power index was 2.93 factors higher at 972.12, and the monetary providers index surged 150.51 factors to 17,269.29.
The Main Market quantity declined to 1.95 billion items valued at RM2.22 billion versus 2.77 billion items valued at RM3.01 billion final Friday.
Warrants turnover slid to 979.82 million items price RM119.15 million in opposition to 1.23 billion items price RM164.4 million beforehand.
The ACE Market quantity declined to 558.35 million shares price RM187.78 million from 702.72 million shares price RM222.46 million on Friday.
Consumer services and products counters accounted for 330.31 million shares traded on the Main Market, industrial services and products (350.55 million), building (249.06 million), know-how (261.91 million), SPAC (nil), monetary providers (72.52 million), property (273.67 million), plantation (29.85 million), REITs (14.66 million), closed/fund (15,800), power (215.63 million), healthcare (45.54 million), telecommunications and media (21.09 million), transportation and logistics (29.83 million), utilities (56.28 million), and enterprise belief (939,600).
