Bursa starts lower but turns higher on positive sentiment
KUALA LUMPUR : Bursa Malaysia opened marginally lower but turned higher on Monday, buoyed by the positive sentiment of fund inflows by foreign investors throughout last week, analysts said.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.84 points to 1,544.33 from last Friday's close of 1,542.49.
The benchmark index was 0.71 of-a-point easier at 1,541.78 at the opening bell.
Turnover stood at 123.73 million shares worth RM65.76 million.
Market breadth was positive, with 233 gainers outnumbering 90 decliners, 244 counters were unchanged, 1,778 untraded, and 27 suspended.
Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said investors were heartened by the return of foreign buying, which had seen unprecedented outflows since the beginning of 2025.
He said that with the local bourse closing above the 1,540 mark last week, the benchmark index may re-test the 1,600 mark soon.
'As such, we believe the index will trend within the 1,540-1,555 range today. It is also worthwhile to note that the ringgit has strengthened to RM4.26 per US dollar,' Thong added.
Meanwhile, Wall Street ended broadly higher on Friday, buoyed by the better-than-expected non-farm payrolls for April, easing fears of a US recession.
Unemployment remained at 4.2% while the US 10-year yield edged higher to 4.30%.
Over in Hong Kong, the Hang Seng Index (HSI) ascended above the 22,500 level as sentiment was boosted by optimism over the potential trade talks between China and the US, coupled with strong earnings from technology giants like Xiaomi and Alibaba.
Among heavyweights, Petronas Chemicals climbed 5.0 sen to RM3.47, Sunway, QL Resources, and Telekom added 3.0 sen each to RM4.82, RM4.83, and RM6.92, respectively, YTL Power International rose 2.0 sen to RM3.45, and YTL Corporation increased 1.0 sen to RM1.94.
In active trade, West River grew half-a-sen to 39.5 sen, Sentoria was flat at half-a-sen, Nationgate rose 5.0 sen to RM1.57, OCR was half-a-sen lower at 3.5 sen, and Jiankun added half-a-sen to 3.0 sen.
On the index board, the FBM Emas Index was 28.80 points firmer at 11,518.18, the FBMT 100 Index appreciated 25.02 points to 11,282.26, and the FBM Emas Shariah Index strengthened 33.43 points to 11,423.78.
The FBM 70 Index jumped 82.25 points to 16,356.79, and the FBM ACE Index gained 20.40 points to 4,669.60.
Across sectors, the Financial Services Index accumulated 18.86 points to 18,259.81, the Industrial Products and Services Index rose 0.83 of-a-point to 153.12, the Energy Index put on 1.35 points to 696.32, and the Plantation Index grew 12.73 points to 7,296.50.
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Free Malaysia Today
6 hours ago
- Free Malaysia Today
Bursa rebounds to close higher on bargain-hunting
KUALA LUMPUR : Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunications stocks during the late session, said an analyst. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the US and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart, Xi Jinping, this week. As for the local bourse, Thong said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. 'We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. 'For the moment, we maintain our weekly FTSE Bursa Malaysia KLCI (FBM KLCI) target at between 1,490 and 1,520 pending the emergence of fresh catalysts,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2% to 1.6%, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50%, effective immediately, adding fresh pressure on global markets. Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. 'Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds,' he said. At 5pm, the FBM KLCI rose 4.72 points, or 0.31%, to its intraday high of 1,507.97 from yesterday's close of 1,503.25. The index thus ended its six-day losing streak to end in positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in early trade, experiencing choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with yesterday's 3.04 billion units valued at RM2.20 billion. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up eight sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added nine sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added 0.5 sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered seven sen to RM4.66, NationGate slid three sen to RM1.43, and XOX Networks slipped 0.5 sen to one sen. On the index board, the FBM Emas Index gained 28.62 points to 11,283.07, the FBMT 100 Index increased 30.22 points to 11,052.94, while the FBM ACE Index decreased 2.16 points to 4,479.65. The FBM Emas Shariah Index advanced 31.5 points to 11,241.65 and the FBM 70 Index added 26.83 points to 16,168.99. Sector-wise, the financial services index eased 4.78 points to 17,757.85, the plantation index declined 15.21 points to 7,203.67, while the industrial products and services index edged up 0.02 of-a-point to 150.1 and the energy index climbed 3.5 points to 702.46. The Main Market volume narrowed to 1.15 billion units valued at RM1.83 billion against yesterday's 1.21 billion units worth RM1.9 billion. Warrants turnover dwindled to 967.1 million units worth RM118.58 million from 1.5 billion units valued at RM201.92 million yesterday. The ACE Market volume slid to 288.86 million shares valued at RM78.35 million versus 323.1 million shares worth RM94.99 million previously. Consumer products and services counters accounted for 193.98 million shares traded on the Main Market, industrial products and services (191.61 million), construction (104.48 million), technology (129.41 million), SPAC (nil), financial services (86.14 million), property (187.72 million), plantation (216.54 million), REITs (15.21 million), closed/fund (nil), energy (75.41 million), healthcare (54.76 million), telecommunications and media (45.06 million), transportation and logistics (15.81 million), utilities (34.15 million), and business trusts (600).
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Bursa Malaysia rebounds to close higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunication stocks during the late session, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.72 points, 0.31 per cent, to its intraday high of 1,507.97 from Tuesday's close of 1,503.25. The index thus ended its six-day losing streak to end in the positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in the early trade, experienced choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with Tuesday's 3.04 billion units valued at RM2.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the United States (US) and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart Xi Jinping this week. As for the local bourse, he said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. "We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. "For the moment, we maintain our weekly FBM KLCI target at between 1,490 and 1,520 pending the emergence of fresh catalysts,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2 per cent to 1.6 per cent, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50 per cent, effective immediately, adding fresh pressure on global markets. Mohd Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. "Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3.0 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds,' he said. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up 8.0 sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added 9.0 sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added half-a-sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered 7.0 sen to RM4.66, NationGate slid 3.0 sen to RM1.43, and XOX Networks slipped half-a-sen to 1.0 sen. On the index board, the FBM Emas Index gained 28.62 points to 11,283.07, the FBMT 100 Index increased 30.22 points to 11,052.94, while the FBM ACE Index decreased 2.16 points to 4,479.65. The FBM Emas Shariah Index advanced 31.50 points to 11,241.65 and the FBM 70 Index added 26.83 points to 16,168.99. Sector-wise, the Financial Services Index erased 4.78 points to 17,757.85, the Plantation Index declined 15.21 points to 7,203.67, while the Industrial Products and Services Index edged up 0.02 of-a-point to 150.10 and the Energy Index climbed 3.50 points to 702.46. The Main Market volume narrowed to 1.15 billion units valued at RM1.83 billion against Tuesday's 1.21 billion units worth RM1.90 billion. Warrants turnover dwindled to 967.10 million units worth RM118.58 million from 1.50 billion units valued at RM201.92 million yesterday. The ACE Market volume slid to 288.86 million shares valued at RM78.35 million versus 323.10 million shares worth RM94.99 million previously. Consumer products and services counters accounted for 193.98 million shares traded on the Main Market, industrial products and services (191.61 million), construction (104.48 million), technology (129.41 million), SPAC (nil), financial services (86.14 million), property (187.72 million), plantation (216.54 million), REITs (15.21 million), closed/fund (nil), energy (75.41 million), healthcare (54.76 million), telecommunications and media (45.06 million), transportation and logistics (15.81 million), utilities (34.15 million), and business trusts (600). - Bernama
Malaysian Reserve
7 hours ago
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Bursa Malaysia rebounds to close higher on bargain hunting
KUALA LUMPUR — Bursa Malaysia picked up momentum in the final hour of trading to close marginally higher, driven by bargain-hunting in energy and telecommunication stocks during the late session, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.72 points, 0.31 per cent, to its intraday high of 1,507.97 from Tuesday's close of 1,503.25. The index thus ended its six-day losing streak to end in the positive territory. The benchmark index opened 3.85 points higher at 1,507.10 and thereafter slipped to a low of 1,501.11 in the early trade, experienced choppy trading in the afternoon session before trending upwards towards closing. Market breadth was, however, slightly negative as decliners outpaced gainers 494 to 442, while 450 counters were unchanged, 953 untraded and 18 suspended. Turnover slid to 2.40 billion units worth RM2.03 billion compared with Tuesday's 3.04 billion units valued at RM2.20 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market mirrored the upbeat key regional bourses on speculation that the United States (US) and Chinese leaders may reconnect this week to restart trade negotiations. White House officials said President Donald Trump would speak with his Chinese counterpart Xi Jinping this week. As for the local bourse, he said lingering concerns over trade tensions and their impact on the global economy were causing investors to remain cautious. 'We are hopeful that the negotiations between the US and China will ease tensions and boost sentiment among local investors. 'For the moment, we maintain our weekly FBM KLCI target at between 1,490 and 1,520 pending the emergence of fresh catalysts,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said sentiment remained cautious following the Organisation for Economic Cooperation and Development's (OECD) latest report, which downgraded its 2025 US gross domestic product (GDP) growth forecast from 2.2 per cent to 1.6 per cent, citing policy uncertainty and the adverse impact of Trump's renewed tariff measures. This includes a proclamation doubling US tariffs on steel and aluminium to 50 per cent, effective immediately, adding fresh pressure on global markets. Mohd Sedek said that despite the modest rebound in the benchmark index, broader market sentiment remained cautious. 'Trading activity was subdued, with total volume easing to 2.4 billion shares, down from 3.0 billion the previous day, signalling continued investor caution amid persistent global and domestic headwinds,' he said. On the local bourse, heavyweights Petronas Dagangan jumped 96 sen to RM20.96, YTL Corporation perked up 8.0 sen to RM1.88, and CelcomDigi rose 14 sen to RM3.92. YTL Power International and Maxis added 9.0 sen each to RM3.29 and RM3.65, respectively. As for active stocks, TWL added half-a-sen to 2.5 sen, Tanco eased 1.5 sen to 98.5 sen, Gamuda garnered 7.0 sen to RM4.66, NationGate slid 3.0 sen to RM1.43, and XOX Networks slipped half-a-sen to 1.0 sen. On the index board, the FBM Emas Index gained 28.62 points to 11,283.07, the FBMT 100 Index increased 30.22 points to 11,052.94, while the FBM ACE Index decreased 2.16 points to 4,479.65. The FBM Emas Shariah Index advanced 31.50 points to 11,241.65 and the FBM 70 Index added 26.83 points to 16,168.99. Sector-wise, the Financial Services Index erased 4.78 points to 17,757.85, the Plantation Index declined 15.21 points to 7,203.67, while the Industrial Products and Services Index edged up 0.02 of-a-point to 150.10 and the Energy Index climbed 3.50 points to 702.46. The Main Market volume narrowed to 1.15 billion units valued at RM1.83 billion against Tuesday's 1.21 billion units worth RM1.90 billion. Warrants turnover dwindled to 967.10 million units worth RM118.58 million from 1.50 billion units valued at RM201.92 million yesterday. The ACE Market volume slid to 288.86 million shares valued at RM78.35 million versus 323.10 million shares worth RM94.99 million previously. Consumer products and services counters accounted for 193.98 million shares traded on the Main Market, industrial products and services (191.61 million), construction (104.48 million), technology (129.41 million), SPAC (nil), financial services (86.14 million), property (187.72 million), plantation (216.54 million), REITs (15.21 million), closed/fund (nil), energy (75.41 million), healthcare (54.76 million), telecommunications and media (45.06 million), transportation and logistics (15.81 million), utilities (34.15 million), and business trusts (600). — BERNAMA
