2 days ago
- Business
- New Straits Times
Bursa Malaysia ends firmer, buoyed by positive US-China developments
KUALA LUMPUR: Bursa Malaysia closed on a stronger note Wednesday, lifted by positive sentiment stemming from recent US-China developments, with YTL-linked stocks attracting notable buying interest.
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.45 per cent, gaining 6.89 points to settle at 1,523.84, up from Tuesday's close of 1,516.95.
Market breadth was positive, with 546 gainers outpacing 375 losers, while 528 counters remained unchanged.
According to Malacca Securities Sdn Bhd, the broader market saw a rebound in the construction sector following a round of healthy profit-taking, led by gains in Gamuda Bhd and IJM Corporation Bhd.
In contrast, the consumer products and services sector recorded the largest decline.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said investor sentiment was further buoyed by an improvement in trading activity.
"Market volume rebounded to a more normalised level, surpassing the 3 billion shares mark after languishing around 2.7 billion shares for the past five consecutive trading days.
"Financials, utilities, and data centre-related counters led the gainers, reflecting renewed confidence in sectors anchored by domestic demand and long-term structural trends," he added.
