KUALA LUMPUR: Bursa Malaysia ended the week increased attributable to positive regional efficiency, breaking its four-day losing streak, in response to an analyst.
Rakuten Trade Sdn Bhd fairness analysis vice-president Thong Pak Leng mentioned the FTSE Bursa Malaysia KLCI (FBM KLCI) completed marginally increased attributable to late shopping for, notably in telecommunication, plantation, and power shares.
He mentioned key regional indices trended increased at this time regardless of the US Federal Reserve’s (Fed) hawkish tone on the rate of interest trajectory.
“We consider this is because of bargain-hunting actions following just a few days of selldown.
“Furthermore, the Bank of Japan left its financial coverage unchanged after its newest assembly at this time,” he informed eNM.
Thong cautioned that extended excessive US rates of interest would trigger uncertainty and volatility in regional markets.
At 5pm, the FBM KLCI rose 2.02 factors to 1,450.23 from yesterday’s shut of 1,448.21.
The index opened 2.33 factors weaker at 1,445.88 and moved between 1,441.50 and 1,450.69 all through the day.
The broader market was positive, with advancers main decliners 504 to 403, whereas 472 counters have been unchanged, 1,012 untraded, and 49 others suspended.
Turnover declined to three.13 billion items price RM2.08 billion from 3.25 billion items price RM2.13 billion yesterday.
At the shut, Bursa heavyweights Maybank was down by two sen to RM8.88, Public Bank misplaced one sen to RM4.20, Petronas Chemicals gained 4 sen to RM7.35, TNB expanded 10 sen to RM10.16, whereas CIMB was flat at RM5.59.
Of the actives, KNM Group edged up 0.5 sen to 12.5 sen, Ekovest added 2.5 sen to 59 sen, UEM Sunrise superior three sen to 91 sen, Eastern & Oriental superior 6.5 sen to 71.5 sen and Mercury Securities declined 0.5 sen to 29.5 sen.
On the index board, the FBM Emas Index recovered 20.26 factors to 10,746.9, the FBMT 100 Index was 16.18 factors firmer at 10,408.19, the FBM 70 Index inched up 29.52 factors to 14,317.08 and the FBM Emas Shariah Index put on 35.36 factors to 11,007.83.
Meanwhile, the FBM ACE Index dropped 5.08 factors to five,209.06.
Sector-wise, the plantation index went up 2.12 factors to six,927.22, the power index leaped 15.03 factors to 906.92 and the economic services and products index edged up 0.42 of-a-point to 174.83.
Meanwhile, the monetary companies index decreased 7.34 factors to 16,220.63.
The Main Market quantity fell to 2.08 billion items price RM1.82 billion from 2.14 billion items price RM1.9 billion yesterday.
Warrants turnover widened to 464.54 million items valued at RM69.35 million towards 379.14 million items valued at RM48.82 million beforehand.
The ACE Market quantity slipped to 585.5 million shares price RM185.53 million from 690.76 million shares price RM182.43 million beforehand.
Consumer services and products counters accounted for 287.45 million shares traded on the Main Market, industrial services and products (345.51 million); development (193.33 million); expertise (131.33 million); SPAC (nil); monetary companies (46.1 million); property (540.94 million); plantation (30.63 million); REITs (6.38 million), closed/fund (18,200); power (308.52 million); healthcare (54.5 million); telecommunications and media (29.31 million); transportation and logistics (51.78 million) and utilities (50.60 million).
