Bursa holds steady to close higher, tracking regional gains
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the key index's positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8% year-on-year in June, well above the 3.6% forecast.
'The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington's tariff rhetoric,' he told Bernama.
Sedek said investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product (GDP).
'The Chinese government is due to release the economic data tomorrow,' he said.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remains cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for Asean economies and global supply chains.
'Nevertheless, the benchmark index is well supported above the 1,530 level.
'While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience,' he noted.
Thong anticipates the FTSE Bursa Malaysia KLCI (FBM KLCI) to trend within the range of 1,530-1,560 for the week.
At 5pm, the FBM KLCI climbed 1.44 points, or 0.09%, to 1,537.51 from Friday's close of 1,536.07.
The benchmark opened 0.10 of-a-point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session.
The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended.
Turnover declined to 2.93 billion shares worth RM1.67 billion, compared with 3.37 billion shares worth RM2.3 billion last Friday.
Among the heavyweight counters, Maybank gained three sen to RM9.72, while Public Bank and Tenaga Nasional rose two sen each to RM4.34 and RM13.98, respectively. CIMB and IHH Healthcare both edged up one sen to RM6.69 and RM6.59.
In active trade, NexG gained two sen to 47 sen, Wentel Engineering grew 1.5 sen to 33.5 sen, Malaysian Resources Corporation added 0.5 sen to 54 sen, Zetrix AI was 1.5 sen lower at 98.5 sen, and Tanco was flat at 90.5 sen.
On the index board, the FBM Emas Index gained 14.88 points to 11,558.46, the FBMT 100 Index expanded 12.30 points to 11,321.04, and the FBM Emas Shariah Index added 8.13 points to 11,560.60.
The FBM 70 Index increased 25.85 points to 16,787.20, while the FBM ACE Index improved 33.35 points to 4,571.52.
By sector, the financial services index gained 55.74 points to 17,663.87, the industrial products and services index shaved 0.22 points to 153.87, and the plantation index fell 16.35 points to 7,434.10.
The energy index inched up 9.76 points to 747.38.
The Main Market volume retreated to 1.13 billion units worth RM1.35 billion from 1.36 billion units valued at RM1.99 billion last Friday.
Warrants turnover slipped to 1.46 billion units valued at RM208.01 million from 1.7 billion units worth RM203 million previously.
The ACE Market volume increased to 342.18 million units valued at RM113.55 million, versus 318.83 million units worth RM107.58 million on Friday.
Consumer products and services counters accounted for 171.7 million shares traded on the Main Market; industrial products and services (182.22 million), construction (82.17 million), technology (239.31 million), SPAC (nil), financial services (41.28 million), property (179.63 million), plantation (11.93 million), REITs (19.63 million), closed-end fund (22,800), energy (61.84 million), healthcare (54 million), telecommunications and media (30.31 million), transportation and logistics (21.68 million), utilities (34.41 million), and business trusts (18,500).
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