Bursa Malaysia Roars Back, CI Jumps 1.63 Pct On Bargain Hunting, Foreign Funds
KUALA LUMPUR, April 30 (Bernama) -- Bursa Malaysia bounced back from yesterday's losses to close on a firmer footing today, with the key index gaining 1.63 per cent, buoyed by bargain hunting, renewed foreign fund inflows, and signs of easing trade-related anxieties.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 24.66 points to 1,540.22 from yesterday's close of 1,515.56.
The market bellwether opened 2.51 points higher at 1,518.07, marking its intraday low, and climbed to its intraday high at closing.
On the broader market, market breadth was positive with 454 gainers outpacing 347 decliners, while 475 counters were unchanged, 1,143 untraded, and 96 suspended.
Turnover slid to 2.56 billion units valued at RM2.25 billion against yesterday's 3.04 billion units valued at RM1.81 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local market displayed resilience, underpinned by the influx of foreign capital and shifting sentiment.
'Notably, US President Donald Trump's tariff 2025 announcement, which initially drove the composite index to a 20-month low of 1,400.59 on April 9, ultimately proved to be a boon in disguise.
'A sectoral symphony unfolded post-tariff, with export-oriented and consumer discretionary stocks harmonising to drive gains. This dynamic emerged as investors rotated into undervalued segments of the market, positioning ahead of potential trade normalisation,' he told Bernama.
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