KUALA LUMPUR: Bursa Malaysia closed at a two-year high as we speak with the important thing index rising 0.63%, pushed by a constructive outlook on the native bourse and amid an upbeat efficiency by regional friends.
UOB Kay Hian Wealth Advisors’ designated portfolio supervisor and head of wealth analysis and advisory Sedek Jantan stated the FTSE Bursa Malaysia KLCI (FBMKLCI) was pushed by a constructive outlook on the Malaysian market.
“This upsurge was primarily propelled by optimism in direction of the know-how and semiconductor sectors, as properly as catalysed by Tesla’s announcement of an earlier launch for its extra reasonably priced mannequin within the first half of 2025, moderately than the second half beforehand,” he advised eNM.
He stated the accelerated schedule alleviated considerations concerning potential stagnation within the development of synthetic intelligence (AI) and autonomous autos.
“In addition, the introduction of the extra reasonably priced mannequin is anticipated to bolster the automotive trade and facilitate the scaling of AI coaching by means of augmented knowledge from a bigger automobile fleet.
“Consequently, Malaysia stands poised to profit from heightened semiconductor demand, leveraging its in depth experience within the ultimate phases of semiconductor manufacturing,” he stated.
Sedek additionally stated the conclusion of the KL20 Summit 2024 has outlined a definitive trajectory for Malaysia to emerge as a outstanding chip powerhouse inside Southeast Asia.
At 5pm, the FBM KLCI rose 9.84 factors to 1,571.48 from yesterday’s shut of 1,561.64.
The benchmark index, which opened 3.85 factors larger at 1,565.49, moved between 1,564.89 and 1,572.48 all through the buying and selling session.
On the broader market, gainers surpassed decliners 777 to 327 whereas 480 counters have been unchanged, 780 untraded, and 21 others suspended.
Turnover improved to 4.25 billion models price RM3.03 billion from 3.73 billion models price RM2.79 billion yesterday.
Among the heavyweight counters, Public Bank gained 4 sen to RM4.25, Tenaga Nasional added 14 sen to RM11.86 and Maybank eased two sen to RM9.80.
IHH Healthcare went down 4 sen to RM6.20 whereas CIMB was flat at RM6.67.
As for the actives, Talam Transform gained 0.5 sen to 1.5 sen, MyEG was 1.5 sen higher at 80 sen and InGenieur Gudang slid 0.5 sen to 13 sen.
TWL Holdings and Bina Puri have been flat at three sen and seven.5 sen, respectively.
On the index board, the FBM Emas Index jumped 85.45 factors to 11,800.49, the FBM 70 Index bounced 133.27 factors to 16,382.31 and the FBMT 100 Index gained 77.12 factors to 11,435.38.
The FBM Emas Shariah Index surged 116.52 factors to 11,974.87, and the FBM ACE Index rallied 108.66 factors to 5,066.81.
Sector-wise, the commercial services and products index inched up 2.24 factors to 187.8, the monetary providers index recouped 30.71 factors to 17,386.06, the power index was 4.64 factors larger at 973.8 and the plantation index gained 49.59 factors to 7,433.54.
The Main Market quantity widened to 2.41 billion models valued at RM2.63 billion versus 2 billion models valued at RM2.42 billion yesterday.
Warrants turnover superior to 1.21 billion models price RM170.48 million in opposition to 935.1 million models price RM114.23 million yesterday.
The ACE Market quantity dropped to 629.57 million shares price RM231.37 million from 783.91 million shares price RM251.55 million beforehand.
Consumer services and products counters accounted for 318.34 million shares traded on the Main Market, industrial services and products (546.22 million), building (213.62 million), know-how (286.78 million), SPAC (nil), monetary providers (105.71 million), property (534.83 million), plantation (35.29 million), REITs (19.06 million), closed/fund (29,000), power (153.12 million), healthcare (61.16 million), telecommunications and media (45.38 million), transportation and logistics (32.93 million), utilities (48.98 million), and enterprise belief (3.94 million).
