Bursa Malaysia snaps 6-day losing streak, CI up on bargain hunting
At 5 pm, the FBM KLCI rose 8.36 points, or 0.55 per cent, to 1,535.38 from Thursday's close of 1,527.02.
The benchmark index, which opened 4.91 points higher at 1,531.93, fluctuated between 1,531.76 and 1,536.75 throughout the day.
In the broader market, gainers beat losers 468 to 447, while 506 counters were unchanged, 998 untraded, and 41 suspended.
Turnover fell slightly to 2.72 billion units worth RM2.17 billion compared with Thursday's 2.78 billion units worth RM2.15 billion.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI reversed six days of losses, staging a broad-based recovery that began in the morning session and was sustained throughout the day.
He added that improved risk sentiment, coupled with a pullback in US Treasury yields, spurred bargain-hunting across selected large-cap stocks.
"Notably, the easing in bond yields after a strong spike provided relief to rate-sensitive sectors, particularly local banking stocks, which led gains on the day. As a result, we observed a meaningful rebound in both the financial sector index and key banking counters, contributing positively to the overall index performance," he told Bernama.
Among heavyweights, Maybank rose 6.0 sen to RM9.88, Public Bank jumped 10 sen to RM4.40, CIMB went up 9.0 sen to RM6.94, IHH Healthcare gained 2.0 sen to RM6.90, Tenaga Nasional was flat at RM14, and YTL Power shed 21 sen to RM3.39.
For active stocks, Main Market debutant Eco-Shop advanced 7.0 sen to RM1.20, MYEG and Tanco both increased 2.5 sen to 92 sen and 97.5 sen, respectively, Aizo was flat at 8.5 sen, and Barakah Offshore declined 2.5 sen to half-a-sen.
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New Straits Times
5 hours ago
- New Straits Times
Bursa Malaysia ends higher on bargain hunting
KUALA LUMPUR: Bursa Malaysia ended the week on a higher note as bargain hunting continued following the heavy sell-off earlier this week, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.92 points or 0.32 per cent to 1,525.86 from Thursday's close of 1,520.94. The benchmark index opened 2.03 points higher at 1,522.97 and moved between 1,522.97 and 1,529.52 throughout the trading session. The market breadth was positive, with 621 gainers overtaking 393 decliners and 511 counters unchanged, while 933 were untraded and eight suspended. Turnover slightly improved to 3.18 billion shares worth RM2.81 billion, compared with 3.17 billion shares valued at RM2.48 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices also trended higher thanks to strong earnings from technology companies. Taiwan Semiconductor Manufacturing Company's (TSMC) second quarter (2Q) earnings soared nearly 61 per cent year-on-year to a new record, fuelled by sustained strength in artificial intelligence (AI) chip demand. However, the Japanese stocks were on a downtrend as inflation data came in slightly higher than expected. Thong said sentiment remained fragile for the local bourse as the index failed to re-capture the 1,530 level. "Investors are also reluctant to hold long positions due to many external uncertainties," he told Bernama. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the closing performance by the FBM KLCI was, however, insufficient to lift the index into positive territory on a weekly basis. On a Friday-to-Friday comparison, he noted the index registered a marginal decline of 0.66 per cent. In today's session, industrial products led the gainers, supported by an improving economic outlook for Malaysia, which appears to have alleviated investor concerns over potential economic headwinds stemming from uncertain trade policies and ongoing geopolitical risks. Commenting on the gross domestic product (GDP), the data released today showed Malaysia's advanced estimate for second-quarter GDP coming in at 4.5 per cent, slightly ahead of its projection of 4.3 per cent, reinforcing the resilience of the domestic economy despite persistent external challenges. "The improved sentiment was further buoyed by stronger-than-expected US macroeconomic data overnight. "Notably, US retail sales rose by 0.6 per cent in June, while initial jobless claims fell for the fifth consecutive week to their lowest level since mid-April - both signalling sustained strength in the American labour market. Of the heavyweight stocks, Public Bank and Press Metal Aluminium rose 6.0 sen each to RM4.31 and RM5.13, Gamuda gained 18 sen to RM5.33, Sunway added 7.0 sen to RM5.06 and IHH Healthcare was up 4.0 sen to RM6.57. Among the most active stocks, ACE Market debutant Enproserve Group was 2.5 sen higher at 26.5 sen, NexG added half-a-sen to 49.5 sen, Zetrix AI and Tanco gained 1.0 sen each to 94.5 sen and 91 sen and iCents advanced 2.0 sen to 36 sen.
Malay Mail
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KUALA LUMPUR, July 18 — Bursa Malaysia ended the week on a higher note as bargain hunting continued following the heavy sell-off earlier this week, an analyst said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.92 points or 0.32 per cent to 1,525.86 from Thursday's close of 1,520.94. The benchmark index opened 2.03 points higher at 1,522.97 and moved between 1,522.97 and 1,529.52 throughout the trading session. The market breadth was positive, with 621 gainers overtaking 393 decliners and 511 counters unchanged, while 933 were untraded and eight suspended. Turnover slightly improved to 3.18 billion shares worth RM2.81 billion, compared with 3.17 billion shares valued at RM2.48 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices also trended higher thanks to strong earnings from technology companies. Taiwan Semiconductor Manufacturing Company's (TSMC) second quarter (Q2) earnings soared nearly 61 per cent year-on-year to a new record, fuelled by sustained strength in artificial intelligence (AI) chip demand. However, the Japanese stocks were on a downtrend as inflation data came in slightly higher than expected. Thong said sentiment remained fragile for the local bourse as the index failed to re-capture the 1,530 level. 'Investors are also reluctant to hold long positions due to many external uncertainties,' he told Bernama. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the closing performance by the FBM KLCI was, however, insufficient to lift the index into positive territory on a weekly basis. On a Friday-to-Friday comparison, he noted the index registered a marginal decline of 0.66 per cent. In today's session, industrial products led the gainers, supported by an improving economic outlook for Malaysia, which appears to have alleviated investor concerns over potential economic headwinds stemming from uncertain trade policies and ongoing geopolitical risks. Commenting on the gross domestic product (GDP), the data released today showed Malaysia's advanced estimate for second-quarter GDP coming in at 4.5 per cent, slightly ahead of its projection of 4.3 per cent, reinforcing the resilience of the domestic economy despite persistent external challenges. 'The improved sentiment was further buoyed by stronger-than-expected US macroeconomic data overnight. 'Notably, US retail sales rose by 0.6 per cent in June, while initial jobless claims fell for the fifth consecutive week to their lowest level since mid-April — both signalling sustained strength in the American labour market. Of the heavyweight stocks, Public Bank and Press Metal Aluminium rose 6.0 sen each to RM4.31 and RM5.13, Gamuda gained 18 sen to RM5.33, Sunway added 7.0 sen to RM5.06 and IHH Healthcare was up 4.0 sen to RM6.57. Among the most active stocks, ACE Market debutant Enproserve Group was 2.5 sen higher at 26.5 sen, NexG added half-a-sen to 49.5 sen, Zetrix AI and Tanco gained 1.0 sen each to 94.5 sen and 91 sen and iCents advanced 2.0 sen to 36 sen. On the index board, the FBM Emas Index expanded by 54.66 points to 11,479.83, the FBMT 100 Index gained 53.32 points to 11,241.69, the FBM Emas Shariah Index advanced 63.90 points to 11,537.87. The FBM 70 Index leapt 153.68 points to 16,697.72 and the FBM ACE Index went up 35.81 points to 4,671.79. Sector-wise, the Financial Services Index increased 52.48 points to 17,354.83, the Industrial Products and Services Index was 1.39 points firmer at 155.38, the Energy Index inched up 0.02 of a point to 739.13, and the Plantation Index bagged 11.35 points to 7,441.89. The Main Market volume widened to 1.50 billion units valued at RM2.46 billion from 1.28 billion units worth RM2.08 billion on Thursday. Warrant turnover fell to 1.22 billion units worth RM165.20 million from 1.38 billion units valued at RM207.39 million previously. The ACE Market volume increased to 466.10 million units valued at RM188.24 million, versus 512.88 million units worth RM192.81 million yesterday. Consumer products and services counters accounted for 176.03 million shares traded on the Main Market; industrial products and services (200.71 million), construction (231.31 million), technology (265.90 million), SPAC (nil), financial services (82.09 million), property (243.06 million), plantation (13.82 million), REITs (29.73 million), closed-end fund (13,000), energy (63.34 million), healthcare (102.26 million), telecommunications and media (28.96 million), transportation and logistics (23.14 million), utilities (39.81 million), and business trusts (10,800). — Bernama
