KUALA LUMPUR: Bursa Malaysia rebounded strongly to finish higher right this moment, making a swift restoration of its losses from the earlier session, supported by largely upbeat regional markets, mentioned an analyst.
Apex Securities Bhd head of analysis Kenneth Leong mentioned the improved market sentiment was primarily pushed by the dovish stance from the United States (US) Federal Reserve chairman Jerome Powell final evening, whereas the stronger crude palm oil (CPO) costs additionally lifted plantation giants higher right this moment.
“Moving ahead, we count on the constructive momentum to increase in view of the absence of damaging developments.
“Still, traders will probably be focusing on the US jobs information on Friday to gauge the well being of the world’s largest economic system,” Leong added.
On the technical entrance, he mentioned the FBM KLCI has fashioned a bullish candle right this moment to get well above the center Bollinger Band.
Over the long term, the important thing index is predicted to stay vary certain inside the consolidation band, oscillating between the speedy resistance situated at 1,560 with the near-term assist pegged at 1,520.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 16.23 factors, or 1.05%, to 1,553.24 from Wednesday’s shut of 1,537.01.
The benchmark index, which opened 1.97 factors higher at 1,538.98, moved between 1,537.25 and 1,554.33 all through the buying and selling session.
On the broader market, gainers thumped decliners 656 to 352, with 475 counters unchanged, 835 untraded and 9 others suspended.
Turnover narrowed to three.36 billion items valued at RM2.68 billion in contrast with 4.26 billion items value RM2.87 billion yesterday.
Among the heavyweights, Press Metal Aluminium climbed 35 sen to RM5.12, Sime Darby Plantation gained 15.0 sen to RM4.50, Sime Darby added 5.0 sen to RM2.74, Tenaga garnered 20 sen to RM11.50, Telekom rose 10 sen to RM6.12, and YTL Corporation edged up 4.0 sen to RM2.66.
As for probably the most energetic shares, Fitters was flat at 5.5 sen, TDM improved 4.0 sen to 32.5 sen, Alpha IVF added 1.5 sen to 34.5 sen, whereas Widad and SNS Network Technology elevated 1.0 sen every to eight.0 sen and 38 sen respectively.
On the index board, the FBM Emas Index surged 96.71 factors to 11,681.48, the FBMT 100 Index jumped 95.05 factors to 11,316.87, and the FBM Emas Shariah Index soared 97.06 factors to 11,810.89.
The FBM 70 Index rose 99.02 factors to 16,328.45 and the FBM ACE Index climbed 18.12 factors to 4,972.87.
Sector-wise, the monetary providers index garnered 143.92 factors to 17,295.77, the vitality index put on 14.69 factors to 980.73, the plantation index leapt 95.33 factors to 7,406.49, and the economic services and products index perked up 3.21 factors to 183.12.
The Main Market quantity elevated to 2.21 billion items value RM2.35 billion versus 1.99 billion items valued at RM2.48 billion on Wednesday.
Warrants turnover tumbled to 292.03 million items valued at RM28.75 million towards 1.05 billion items value RM126.96 million yesterday.
The ACE Market quantity dwindled to 848.78 million shares value RM295.91 million from 1.19 billion shares value RM265.31 million beforehand.
Consumer services and products counters accounted for 314.80 million shares traded on the Main Market, industrial services and products (433.05 million); development (168.95 million); expertise (123.03 million); SPAC (nil); monetary providers (83.26 million); property (504.75 million); plantation (123.98 million); REITs (19.34 million); closed/fund (4,000); vitality (264.45 million); healthcare (36.75 million); telecommunications and media (39.87 million); transportation and logistics (44.19 million); and utilities (62.56 million).
