logo
Bursa Malaysia rebounds as bargain-hunting lifts KLCI above 1,520

Bursa Malaysia rebounds as bargain-hunting lifts KLCI above 1,520

Malay Mail17-07-2025
KUALA LUMPUR, July 17 — Bursa Malaysia ended two days of losses to close higher on Thursday, tracking gains in the regional markets as bargain-hunting activities emerged following the recent sell-off.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.44 points or 0.63 per cent to 1,520.94 from Wednesday's close of 1,511.50.
The benchmark index opened 0.39 of a point higher at 1,511.89 and subsequently moved between 1,511.64 and 1,521.15 throughout the session.
The market breadth was positive, with 547 gainers outpacing 416 decliners and 475 counters unchanged, while 1,019 were untraded and eight suspended.
Turnover eased to 3.17 billion shares worth RM2.48 billion, compared with 3.18 billion shares worth RM2.44 billion on Wednesday.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said regional bourses recorded gains, suggesting a broader return of risk appetite.
The local market was in sync with most of its regional peers — Singapore's Straits Times Index rose 0.66 per cent to 4,159.57, South Korea's Kospi advanced 0.37 per cent to 3,192.29 and Japan's Nikkei 225 gained by 0.6 per cent to 39,901.19. However, Hong Kong's Hang Seng Index inched down 0.08 per cent to 24,498.95.
'Looking ahead, attention will turn to key United States (US) economic data releases later today, with June retail sales figures and last week's jobless claims scheduled for release.
'These indicators are likely to offer further insight into the strength of US consumer spending and labour market conditions — both critical gauges for the US Federal Reserve's policy outlook and global market sentiment,' he told Bernama.
Mohd Sedek also said the FBM KLCI staged a sharp rebound today as investors seized on undervalued opportunities — a timely reminder that market fear often fades faster than value does.
'Today's performance was underpinned by a technical rebound, with bargain-hunters rotating into stocks that had been heavily sold down in recent sessions,' he added.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the stronger-than-expected China's gross domestic product (GDP) figures also lifted investor sentiment.
'We believe the benchmark index needs to reclaim the 1,530 level with strong volume in order to stage a sustained upward trajectory. For the moment, we anticipate the FBM KLCI to trend within the range of 1,510-1,530 towards the weekend,' he said.
Among the heavyweight counters, Public Bank gained two sen to RM4.25, Tenaga Nasional added 10 sen to RM13.78 and IHH Healthcare was one sen higher at RM6.53, while Maybank and CIMB were flat at RM9.53 and RM6.50.
In active trade, ACE Market debutant iCents Group gained 10 sen to 34 sen, NexG and Tanco rose half-a-sen each to 49 sen and 90 sen and Lotte Chemical Titan garnered 5.5 sen to 56 sen while Zetrix AI dropped 1.5 sen to 93.5 sen.
On the index board, the FBM Emas Index increased 54.14 points to 11,425.17, the FBMT 100 Index gained 55.72 points to 11,188.37, and the FBM Emas Shariah Index added 70.02 points to 11,473.97.
The FBM 70 Index went up 22.65 points to 16,544.04, while the FBM ACE Index garnered 53.90 points to 4,635.98.
By sector, the Financial Services Index surged 58.59 points to 17,302.35, the Industrial Products and Services Index improved 1.36 points to 153.99, and the Plantation Index bagged 23.75 points to 7,430.54. The Energy Index inched up 3.44 points to 739.11
The Main Market volume retreated to 1.28 billion units worth RM2.08 billion from 1.38 billion units valued at RM2.11 billion on Wednesday.
Warrant turnover fell to 1.38 billion units valued at RM207.39 million from 1.49 billion units worth RM213.66 million previously.
The ACE Market volume increased to 512.88 million units valued at RM192.81 million, versus 304.96 million units worth RM112.71 million yesterday.
Consumer products and services counters accounted for 220.49 million shares traded on the Main Market; industrial products and services (196.20 million), construction (92.47 million), technology (239.05 million), SPAC (nil), financial services (67.42 million), property (168.57 million), plantation (12.64 million), REITs (22.85 million), closed-end fund (4,200), energy (65.69 million), healthcare (78.87 million), telecommunications and media (38.44 million), transportation and logistics (40.28 million), utilities (34.28 million), and business trusts (15,600). — Bernama
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bursa opens 0.36pct easier after two-day rally, tracking mixed global cues
Bursa opens 0.36pct easier after two-day rally, tracking mixed global cues

New Straits Times

time24 minutes ago

  • New Straits Times

Bursa opens 0.36pct easier after two-day rally, tracking mixed global cues

KUALA LUMPUR: Bursa Malaysia opened on a low note on Friday after recording gains over two consecutive sessions, tracking the mixed performance of global markets. At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) erased 4.59 points to 1,535.73, after closing at an intra-day high of 1,540.32 yesterday. The index had opened 1.60 points lower at 1,538.66. Turnover stood at 214.97 million shares valued at RM113.71 million. Rakuten Trade Sdn Bhd Head of research Kenny Yee said Wall Street closed mixed as the Dow Jones Industrial Average ended lower due to the sell-off on IBM. "Over in Hong Kong, the Hang Seng Index continued its winning streak to stay within the 25,700 mark as sentiment remains buoyant with the United States (US) looking more forthcoming in negotiations amid the ongoing trade tension, and many are hoping a deal may be agreed between the US and the EU soon. "On the home front, the FBM KLCI displayed another decent performance as it ended at the 1,540 level, possibly from institutional support in view of the upcoming results season," he told Bernama. Yee said that the index is expected to maintain its positive course and trend in the 1,535-1,550 range today. Among the heavyweights, Maybank lost two sen to RM9.61, Tenaga Nasional reduced 18 sen to RM13.76 and CIMB was one sen easier at RM6.69, while IHH Healthcare earned three sen to RM6.68 and Public Bank was flat at RM4.31. As for the active counters, NexG advanced one sen to 52.5 sen, Green Packet added half-a-sen to five sen and Lotte Chemicals was one sen lower at 69.5 sen, while TWL, Pharmaniaga and SFP Tech were unchanged at 2.5 sen, 22 sen and 20 sen, respectively. On the broader index board, the FBM Emas Index erased 30.76 points to 11,520.41, the FBMT 100 Index slid 31.96 points to 11,282.60, and the FBM Emas Shariah Index shed 39.34 points to 11,541.62. The FBM 70 Index was 39.42 points lower at 16,619.45, while the FBM ACE Index added 0.88 of a point to 4,643.39. Sector-wise, the Financial Services Index reduced 10.21 points to 17,495.37 and the Industrial Products and Services Index slipped 0.41 of a point to 157.75, while the Energy Index rose 1.17 points to 739.85 and the Plantation Index inched up 1.02 points to 7,470.98.

Women taking the lead
Women taking the lead

The Star

time2 hours ago

  • The Star

Women taking the lead

The 30% Club is driving gender diversity in leadership roles, setting the stage for a more inclusive and effective corporate world The 30% Club is a global campaign aimed at boosting female representation in leadership roles, particularly in boardrooms and the C-suite, to at least 30%, with the ultimate goal of achieving gender parity (50:50 representation). Beyond social and ethical considerations, empirical evidence suggests that diverse boards enhance decision-making, which is crucial for sustainable business practices. Why 30%? The 30% target, initially an aspirational goal when women represented only 12% of FTSE 100 boards in 2010, marks the critical mass necessary for minority voices to impact boardroom dynamics. It is a minimum objective with the ultimate aim of achieving gender balance or parity. Increasing female leadership aligns with ESG principles, particularly the social pillar, by fostering environments where inclusive policies are more likely to flourish, leading to more responsible governance and ethical decision-making. The 30% Club advocates business-led, voluntary action over quotas, believing this is the most effective means for meaningful, sustainable change. Women built connections and fostered a community of future leaders and innovators at 30% Club Malaysia Speed Mentoring 2025 event. 30% Club Malaysia Chapter Launched by the Prime Minister in May 2015, the Malaysian Chapter seeks to transform corporate Malaysia through a culture of diversity, equity and inclusion (DEI). Focusing on achieving at least 30% female representation on the boards of Bursa Malaysia-listed companies, it also welcomes non-listed entities and global multinational companies as Corporate Advocates. Strategic pillars Activate: Creating a network of companies committed to accelerating DEI adoption, involving collaboration with business leaders like chairs and chief executive officers (CEOs) to help achieve gender balance goals. Over 80 corporate supporters have joined this initiative. Influence: Links the investment community, government bodies, regulatory agencies (such as the Securities Commission and Bursa Malaysia) and government-linked investment companies to build a robust coalition advancing DEI. Enable: Nurtures future leaders by offering mentoring, scholarships for executive education and programmes that prepare women for board positions. Progress in Malaysia Women representation on the top 100 public-listed boards in Malaysia reached 30.9% in 2023 and 31.4% in 2024, up from 14% in 2015. However, the overall percentage across all 900+ Bursa companies remains below 30% (28%). Female representation at the C-suite level is 40% but is on a declining stage (38%), highlighting more work is needed Journey to leadership The 'Owning Your Ascent' speed mentoring event, held at Menara Star, used a speed-dating format to facilitate quick, focused conversations with seasoned C-suite leaders, known as mentors for this session. It provided a platform for exchanging insights, knowledge and networking opportunities to support participants' career and personal development. The event's theme suggests agency, growth and ambition, encouraging women to take charge of their development and envision their ascent in career, influence or confidence. With over 90 engaged participants, mentors noted the distinct value women bring to leadership. Paynet Group chief executive officer Farhan Ahmad highlighted that diversity drives innovation by bringing varied approaches to decision-making, strengthening the overall group. He emphasised the importance of women believing in themselves and advocating for their worth, noting, 'You only control one thing in this world, yourself. The biggest glass ceiling you have is nowhere else but your mind.' He views his role as removing barriers and providing opportunities for women to showcase their potential. CIMB Group Holding independent non-executive director Ho Yuet Mee emphasised women's ability to balance big-picture thinking with meticulous attention to detail, along with multitasking skills. Emeliana advocates for diversity and inclusion in the oil and gas sector. Board director and former PETRONAS vice president of exploration and upstream Emeliana Rice-Oxley affirmed that all leaders add value by providing insights for improved decision-making and risk management. Women leaders, in particular, often naturally exhibiting communal traits like collaboration and care crucial for building trust and inclusion. However, the journey to leadership is lined with challenges. Reflecting on her 35 years in the male-dominated oil and gas industry, Emeliana noted she never once reported directly to a female, illustrating the absence of female role models. Her advocacy for DEI, which began in 2015, revealed that many women face obstacles such as unconscious bias and the demands of family responsibilities. This sentiment was echoed by mentee Deloitte audit and assurance partner Chiam Chee Hooi, citing balancing extensive family commitments with a demanding career, particularly with weekly travel between Penang and Kuala Lumpur, as a significant personal challenge. Malaysia Aviation Group Group Business Integrity manager Aimi Fahmi described her 11 years in middle management as 'gathering years,' an intentional period to absorb knowledge and overcome the plateau many women experience before senior leadership. Her approach can be likened to a tree strengthening its roots and trunk before it can support a larger canopy. Shalini Singh, a CnetG client partner, defines 'ascent' as growth into a role that enables a deeper, purposeful impact—a journey she resumed after a seven-year career break to raise her children. She is now focused on establishing her personal brand within her firm. A path forward The quest for gender parity in leadership is ongoing, but with collective effort, support, and unwavering commitment to inclusion, the vision of achieving a balanced leadership landscape is within reach. The 30% Club stands as a testament to the power of collaboration and the transformative potential of diversity, urging women to own their ascent and shaping a future where their voices are heard, valued and integral to decision-making.

‘Shine a spotlight on our semiconductor makers'
‘Shine a spotlight on our semiconductor makers'

The Star

time4 hours ago

  • The Star

‘Shine a spotlight on our semiconductor makers'

Beacon of the region: Anwar (third from left) visiting booths at the Asean Semiconductor Summit 2025, accompanied by Tengku Zafrul (second from left). — IZZRAFIQ ALIAS/The Star PETALING JAYA: Malaysians must take pride in having not just 'Made in Malaysia' goods but also those that are 'Made by Malaysians' such as semiconductors, says Prime Minister Datuk Seri Anwar Ibrahim. 'Our mindset must shift from just having 'Made in Malaysia' products to creating 'Made by Malaysian' products.' 'In terms of growing 10 semiconductor firms with revenue of more than US$1bil and 100 others with revenue less than RM1bil, I am proud to share that Malaysia now has at least 13 homegrown companies (across the semiconductor value chain) emerging as potential national champions. 'Less than 50 years from now, we want Malaysia to be able to look back at this moment as the tipping point when the country began grooming its very own Fortune 500 tech companies.' Malaysia is currently the world's sixth largest exporter of semiconductors. Anwar, who spoke at the closing of the Asean Semiconductor Summit 2025 here yesterday, said investors are always welcome but Malaysia would be more strategic and prudent by choosing partners 'who strengthen our supply chains, transfer their knowledge and technologies, and deliver real value to Malaysians'. He also pointed out that the National Semiconductor Strategy launched last year has proven to be successful as Malaysia has secured more than RM63bil worth of investments for the industry as of March this year. This comprised RM58bil from foreign sources with the rest from domestic sources. 'Our established semiconductor ecosystem is well-poised to help us move beyond an FDI-first model and focus on building homegrown champions. 'We want long-term collaborators who grow with us. The most important target now is to deliver the 10+100. 'This means building 10 Malaysian semiconductor and supply chain companies with revenues between RM1bil and RM4.7bil, and nurturing at least 100 more to approach the RM1bil mark. 'These companies will not only export Malaysian products to the world, but also bring our knowledge, value creation and talent into Asean and the global markets. They will be our flag bearers abroad, rooted at home.' Anwar said more than 60,000 engineers would be created in a partnership between the Colla­borative Research in Engi­nee­ring, Science and Technology under the Investment, Trade and Industry Ministry and HRD Corp under the Human Resources Ministry with an allocation of RM1.2bil over five years. He also called on Asean countries to work as a community to address the shortage in skilled workers for the semiconductor industry. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said 'Made by Malaysia' is a vision that requires a whole-of-nation effort. 'Every RM1 spent triggers over RM2 in direct output across the economy – through supply chains, supporting sectors and household incomes. 'In total, the industry generated RM4.9 trillion in economic output last year, underscoring its role as a national multiplier,' he said. He also said Asean countries must move beyond fragmented efforts and instead embrace a collective 'race to the top,' leveraging each nation's unique strengths.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store