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New Straits Times
18-07-2025
- Business
- 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.
New Straits Times
17-07-2025
- Business
- New Straits Times
Bargain-hunting activities push Bursa Malaysia higher at the close
KUALA LUMPUR: Bursa Malaysia ended two days of losses to close higher on Thursday, tracking gains in the regional markets as bargain-hunting activities emerged following the recent sell-off. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.44 points or 0.63 per cent to 1,520.94 from Wednesday's close of 1,511.50. The benchmark index opened 0.39 of a point higher at 1,511.89 and subsequently moved between 1,511.64 and 1,521.15 throughout the session. The market breadth was positive, with 547 gainers outpacing 416 decliners and 475 counters unchanged, while 1,019 were untraded and eight suspended. Turnover eased to 3.17 billion shares worth RM2.48 billion, compared with 3.18 billion shares worth RM2.44 billion on Wednesday. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said regional bourses recorded gains, suggesting a broader return of risk appetite. The local market was in sync with most of its regional peers -- Singapore's Straits Times Index rose 0.66 per cent to 4,159.57, South Korea's Kospi advanced 0.37 per cent to 3,192.29 and Japan's Nikkei 225 gained by 0.6 per cent to 39,901.19. However, Hong Kong's Hang Seng Index inched down 0.08 per cent to 24,498.95. "Looking ahead, attention will turn to key United States (US) economic data releases later today, with June retail sales figures and last week's jobless claims scheduled for release. "These indicators are likely to offer further insight into the strength of US consumer spending and labour market conditions — both critical gauges for the US Federal Reserve's policy outlook and global market sentiment," he told Bernama. Mohd Sedek also said the FBM KLCI staged a sharp rebound today as investors seized on undervalued opportunities — a timely reminder that market fear often fades faster than value does. "Today's performance was underpinned by a technical rebound, with bargain-hunters rotating into stocks that had been heavily sold down in recent sessions," he added. Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the stronger-than-expected China's gross domestic product (GDP) figures also lifted investor sentiment. "We believe the benchmark index needs to reclaim the 1,530 level with strong volume in order to stage a sustained upward trajectory. For the moment, we anticipate the FBM KLCI to trend within the range of 1,510-1,530 towards the weekend," he said. Among the heavyweight counters, Public Bank gained two sen to RM4.25, Tenaga Nasional added 10 sen to RM13.78 and IHH Healthcare was one sen higher at RM6.53, while Maybank and CIMB were flat at RM9.53 and RM6.50. In active trade, ACE Market debutant iCents Group gained 10 sen to 34 sen, NexG and Tanco rose half-a-sen each to 49 sen and 90 sen and Lotte Chemical Titan garnered 5.5 sen to 56 sen while Zetrix AI dropped 1.5 sen to 93.5 sen.
Focus Malaysia
17-07-2025
- Business
- Focus Malaysia
Bargain-hunting activities push Bursa Malaysia higher at the close
BURSA Malaysia ended two days of losses to close higher on Thursday, tracking gains in the regional markets as bargain-hunting activities emerged following the recent sell-off. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.44 points or 0.63 per cent to 1,520.94 from Wednesday's close of 1,511.50. The benchmark index opened 0.39 of a point higher at 1,511.89 and subsequently moved between 1,511.64 and 1,521.15 throughout the session. The market breadth was positive, with 547 gainers outpacing 416 decliners and 475 counters unchanged, while 1,019 were untraded and eight suspended. Turnover eased to 3.17 billion shares worth RM2.48 bil, compared with 3.18 billion shares worth RM2.44 bil on Wednesday. ‒ July 17, 2025
Barnama
17-07-2025
- Business
- Barnama
Bargain-hunting Activities Push Bursa Malaysia Higher At The Close
WORLD By Durratul Ain Ahmad Fuad and Danni Haizal Danial Donald KUALA LUMPUR, July 17 (Bernama) -- Bursa Malaysia ended two days of losses to close higher on Thursday, tracking gains in the regional markets as bargain-hunting activities emerged following the recent sell-off. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.44 points or 0.63 per cent to 1,520.94 from Wednesday's close of 1,511.50. The benchmark index opened 0.39 of a point higher at 1,511.89 and subsequently moved between 1,511.64 and 1,521.15 throughout the session. The market breadth was positive, with 547 gainers outpacing 416 decliners and 475 counters unchanged, while 1,019 were untraded and eight suspended. Turnover eased to 3.17 billion shares worth RM2.48 billion, compared with 3.18 billion shares worth RM2.44 billion on Wednesday. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said regional bourses recorded gains, suggesting a broader return of risk appetite. The local market was in sync with most of its regional peers -- Singapore's Straits Times Index rose 0.66 per cent to 4,159.57, South Korea's Kospi advanced 0.37 per cent to 3,192.29 and Japan's Nikkei 225 gained by 0.6 per cent to 39,901.19. However, Hong Kong's Hang Seng Index inched down 0.08 per cent to 24,498.95. 'Looking ahead, attention will turn to key United States (US) economic data releases later today, with June retail sales figures and last week's jobless claims scheduled for release.
