Kuala Lumpur: FBM KLCI closes in positive territory in a late bargain hunt. It has broader market support, mostly found in small-cap energy and transportation and logistics stocks.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.84 points to 1,499.39 from Friday’s close of 1,497.55.
The leading index opened 2.20 points higher at 1,499.75 and moved between 1,494.15 and 1,500.95 throughout the session.
In the broader market, the number of gainers exceeded the number of losers from 478 to 472, with 395 remaining unchanged, 873 untraded and 54 suspended.
Sales fell to 4.56 billion worth RM2.44 billion versus Friday’s 4.62 billion worth RM2.42 billion.
Commenting on today’s market performance, Thong Pak Leng, vice president of equity research at Rakuten Trade Sdn Bhd, said the lack of new catalysts has put the market pioneers back into tight consolidation mode. said.
“That said, we believe the outlook for local equities remains solid as local economic fundamentals remain strong and low valuations prevail. I expect it to trend, with immediate resistance at 1,500 and support at 1,470,” he told Bernama.
On regional stock markets, Thong said major markets generally closed lower ahead of this week’s US Federal Reserve (Fed) meeting and key economic data.
“The Fed is widely expected to raise interest rates by 25 basis points, but the outlook for monetary policy will be watched closely,” he said.
Regional headlines were mixed, with Japan’s Nikkei 225 up 0.19% to 27,433.40, Hong Kong’s Hang Seng down 2.73% to 22,069.73, Singapore’s Strait Times Index down 0.47% to 3,378.29, and South Korea’s Kospi. fell 1.35% to 27,433.40. 2,450.47.
At home, Bursa Malaysia giants Maybank and CIMB traded 4 sen higher at RM8.78 and RM5.78 respectively, Public Bank 1 sen higher at RM4.26, Petronas Chemicals 3 sen higher at RM8.45, Tenaga Nacional was down 4 cents. Sen to RM9.51.
In terms of actives, Hong Seng Consolidated increased by 2.5 sen to 20.5 sen, warrants increased by 0.5 sen to 2 sen, Zen Tech increased by 1.5 sen to 6.5 sen, ATA IMS increased by 2.5 sen to 43 sen, Velesto increased by 2.5 sen to 43 sen. It was 43 cents. 23 sen exceeded 1 sen.
On the index board, the FBM Emas Index increased by 16.27 points to 10,909.63, the FBMT 100 Index increased by 13.55 points to 10,577.46, and the FBM Emas Shariah Index increased by 12.08 points to 11,189.63.
The FBM 70 Index increased by 20.26 points to 13,780.10 and the FBM ACE Index increased by 27.28 points to 5,758.51.
By sector, the industrial goods and services index rose 0.53 points to 191.30, the energy index rose 12.53 points to 893.29, the plantation index rose 8.83 points to 6,850.06, and the financial services index rose 67.86 points. at 16,538.05.
Major market volume increased to 3.08 billion shares worth RM2.03 billion compared to last Friday’s 2.88 billion shares worth RM2.02 billion.
Sales of warrants fell from 419.36 million units previously worth RM57.86 million to 349.42 million units worth RM58.05 million.
ACE market volume fell from 1.32 billion shares worth RM345.66 million on Friday to 1.13 billion shares worth RM347.61 million.
Consumer products and services counters accounted for 320.59 million shares traded in the main market, industrial products and services (823.21 million). Construction (189.43 million). Technology (637.02 million); SPAC (none); Financial Services (86.36 million). Properties (205.79 million); Plantations (39.53 million); REITs (14.27 million), Closed/Funds (9,000). Energy (504.87 million); Healthcare (61.81 million); Telecommunications and Media (47.61 million); Transportation and Logistics (122.43 million). and utilities (25.01 million).-bernama