Bursa bounces back as market rebounds on foreign inflows and easing trade fears
At 5pm, 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.
Besides, he said encouraging geopolitical developments further stabilised sentiment, with Trump's executive order to moderate proposed auto tariffs and ongoing US–South Korea talks reportedly nearing a preliminary 'agreement of understanding'.
Meanwhile, Australia's pre-election push for tariff clarity underscored the global reverberations of US trade policy.
Mohd Sedek opined that with trade tensions potentially easing, Malaysia's export-heavy sectors may benefit from improved prospects.
'April's journey from sharp declines to a remarkable recovery demonstrates the market's adaptability in the face of volatility. Investors will now focus on the technology and export sectors as key areas for growth in May,' he added.
Among the heavyweights, Petronas Chemicals gained 20 sen to RM3.67, Press Metal Aluminium added 11 sen to RM4.90, CIMB put on 10 sen to RM7.12, Petronas Gas rose 68 sen to RM17.50, and Axiata perked up six sen to RM2.10.
As for the actives, Nationgate Holdings rose eight sen to RM1.36, RichTech was up three sen to 31 sen, Velesto and WTEC Group rose by half-a-sen each to 15.5 sen and 24 sen respectively, while Tanco Holdings dipped two sen to 86 sen.
On the index board, the FBM Emas Index advanced 133.37 points to 11,407.78, the FBMT 100 Index increased 139.48 points to 11,184.44, the FBM Emas Shariah Index jumped 156.56 points to 11,274.29, the FBM 70 Index garnered 40.39 points to 15,945.37, and the FBM ACE Index climbed 10.56 points to 4,628.66.
Sector-wise, the Financial Services Index soared 134.50 points to 18,234.61, the Industrial Products and Services Index firmed 2.56 points to 151.48, the Energy Index gained 10.18 points to 688.14, and the Plantation Index leapt 95.07 points to 7,257.42.
The Main Market volume rose to 1.33 billion units worth RM2.04 billion against Tuesday's 1.26 billion units worth RM1.57 billion.
Warrants turnover slipped to 814.34 billion units valued at RM91.56 million from 1.46 billion units valued at RM140.98 million previously.
The ACE Market volume swelled to 417.40 million units worth RM113.82 million compared to 322.42 million units worth RM98.94 million yesterday.
Consumer products and services counters accounted for 204.95 million shares traded on the Main Market, industrial products and services (197.39 million), construction (101.33 million), technology (174.53 million), SPAC (nil), financial services (90.53 million), property (164.26 million), plantation (19.04 million), REITs (23.11 million), closed/fund (232,800), energy (175.11 million), healthcare (47.06 million), telecommunications and media (42.22 million), transportation and logistics (32.98 million), utilities (61.37 million), and business trusts (169,200). — Bernama
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