KUALA LUMPUR: Malaysian equities ended the week largely constructive, reflecting the growing investor confidence after the short-term halt within the US rate of interest will increase.
Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng stated main regional indices rose sharply higher, particularly in Hong Kong, with shopping for pursuits centered primarily on tech-related, client and power shares.
It can also be fuelled by optimism stemming from Wall Street’s efficiency and the growing consensus that the US Federal Reserve (Fed) had put an finish to its rate of interest hike cycle.
“As for the native bourse, we stay optimistic and anticipate that the benchmark index will maintain its shopping for momentum fuelled by a renewed sense of optimism,” he informed eNM.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 0.7%, or 10.16 factors higher, to 1,449.93 from yesterday’s closing of 1,439.77.
The benchmark index opened 7.86 factors firmer at 1,447.63 and moved between 1,444.79 and 1,453.19 all through the buying and selling session.
The broader market stayed constructive with gainers beating decliners 621 to 309, whereas 440 counters have been unchanged, 981 untraded and 22 suspended.
Turnover elevated to three.6 billion models valued at RM2.02 billion from 3.38 billion models price RM1.93 billion yesterday.
On Bursa Malaysia, amongst heavyweight counters, Axiata and Petronas Chemicals rose 6 sen every to RM2.35 and RM7.19, Sime Darby Plantation gained 7 sen to RM4.38, Press Metal Aluminium added 5 sen to RM4.89, Tenaga Nasional gained 7 sen to RM9.97 and MISC added 9 sen to RM7.30.
Of the actives, SMTrack and Widad eased 0.5 sen every to 4.5 sen and 45 sen, whereas Zen Tech, MLabs, and Fitters have been flat at 2 sen, 1 sen, and 4 sen respectively.
On the index board, the FBM Emas Index gathered 66.89 factors to 10,698.94, the FBMT 100 Index grew 63.31 factors to 10,368.41 and the FBM Emas Shariah Index rose 82.05 factors to 10,906.79.
The FBM 70 Index superior 45.37 factors to 14,098.53 and the FBM ACE Index soared 75.01 factors to five,098.99.
Sector-wise, the economic services and products index ticked up 1.06 factors to 171.71 whereas the plantation index elevated 45.35 factors to six,953.25 and the power index was 4.67 factors higher at 875.48.
The monetary companies index chalked up 63.37 factors to 16,298.88.
The Main Market quantity improved marginally to 1.94 billion models price RM1.71 billion in contrast with 1.93 billion models valued at RM1.61 billion yesterday.
Warrants turnover expanded to 537.52 million models valued at RM77.88 million in opposition to 480.69 million models price RM77.09 million yesterday.
The ACE Market quantity soared to 1.12 billion shares price RM229.56 million from 964.52 million shares valued at RM240.08 million beforehand.
Consumer services and products counters accounted for 330.11 million shares traded on the Main Market, industrial services and products (548.11 million); development (146.04 million); know-how (175.65 million); SPAC (nil); monetary companies (66.67 million); property (261.48 million); plantation (26.38 million); REITs (9.08 million), closed/fund (61,900); power (163.96 million); healthcare (55.26 million); telecommunications and media (32.21 million); transportation and logistics (29.36 million); and utilities (103.16 million).
