KUALA LUMPUR: Bursa Malaysia snapped a four-day losing streak to end increased as we speak, spurred by bargain hunting with indicators of delicate window dressing actions whereas monitoring the upbeat temper throughout regional markets.
Apex Securities Bhd head of analysis Kenneth Leong mentioned the improved sentiment on Wall Street was additionally mirrored within the constructive efficiency of the regional markets together with Bursa, which additional contributed to the good points within the native bourse.
“Going ahead, we anticipate that additional restoration is in retailer, with the important thing index probably to construct on as we speak’s momentum.
“Window dressing actions might propel the important thing index increased with sentiment favouring a possible curiosity lower within the US,” he informed eNM.
Leong mentioned that buyers shall be conserving a detailed tab on US pending house gross sales information to be launched on Thursday.
“For now, buying and selling actions are anticipated to stay skinny for the rest of the week on the again of the festive and year-end holidays,” he added.
From the technical perspective, he mentioned the FTSE Bursa Malaysia KLCI (FBM KLCI) has shaped a bullish candle to bounce off the 50-day easy shifting common, of which additional restoration might raise the important thing index in direction of the instant resistance positioned at 1,465.
“Meanwhile, the near-term assist is noticed at 1,430,” he mentioned.
At 5pm, the FBM KLCI closed 3.44 factors or 0.24% firmer to 1,454.22 from yesterday’s shut of 1,450.78.
The FBM KLCI opened 1.59 factors higher at 1,452.37 and moved between 1,452.08 and 1,455.44 all through the day.
In the broader market, gainers thumped losers 468 to 380, whereas 467 counters have been unchanged, 988 untraded, and 56 others suspended.
Turnover jumped to 3.29 billion items price RM2.06 billion from 2.91 billion items price RM1.96 billion yesterday.
Among the heavyweights, Maybank and Public Bank have been 1 sen increased at RM8.90 and RM4.25, respectively, CIMB Group rose 2 sen to RM5.80, and TNB was flat at RM10.00.
Of the actives, Sarawak Cable improved 11 sen to 39 sen, Zelan perked up 1.5 sen to 8.5 sen, whereas SMTrack, Widad, and Leform rose 0.5 sen to 5.5 sen, 47.5 sen, and 41.5 sen, respectively.
On the index board, the FBM 70 Index went up 4.12 factors to 14,629.71, the FBM Emas Shariah Index rose 16.97 factors to 11,028.5, the FBM Emas Index gained 20.45 factors to 10,825.6, and the FBMT 100 Index climbed 19.22 factors to 10,486.4.
However, the FBM ACE Index slipped 9.59 factors to 5,209.38.
Sector-wise, the plantation index elevated 20.2 factors to 7,018.33, the economic services index inched up 0.08 of-a-point to 172.62, the monetary providers index garnered 23.64 factors to 16,215.08, whereas the property index added 0.6 factors to 864.52, and the power index perked up 2.75 factors to 822.18.
The Main Market quantity expanded to two billion items valued at RM1.79 billion in opposition to 1.89 billion items valued at RM1.67 billion yesterday.
Warrants turnover soared to 466.22 million items price RM61.49 million from 116.57 million items price RM12.84 million yesterday.
The ACE Market quantity declined to 810.65 million shares valued at RM212.73 million versus 846.89 million shares valued at RM269.45 million beforehand.
Consumer services counters accounted for 344.44 million shares traded on the Main Market, industrial services (639.87 million); building (181.13 million); expertise (137.61 million); SPAC (nil); monetary providers (91.88 million); property (172.49 million); plantation (13.56 million); REITs (8.32 million), closed/fund (13,400); power (156.91 million); healthcare (121.95 million); telecommunications and media (24.2 million); transportation and logistics (47.49 million); and utilities (62.75 million).
