KUALA LUMPUR, Dec 14 — Bursa Malaysia rebounded from yesterday’s loss to end in positive territory as bargain-hunting emerged, in line with the regional markets’ uptrend performance.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.05 points or 0.89 per cent to 1,483.17 from yesterday’s closing of 1,470.12
The barometer index opened 1.77 points higher at 1,471.89 and moved between 1,471.64 and 1,483.17 throughout the day.
On the broader market, gainers surpassed decliners 532 versus 383, while 418 counters were unchanged, 940 untraded and 13 others suspended.
Turnover slightly narrowed to 2.51 billion units worth RM1.90 billion versus 2.69 billion units worth RM1.84 billion yesterday.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the local bourse recovered all its previous losses this week, driven by the optimism over the potential slower rate hike from the United States (US) Federal Reserve (Fed).
“For now, investors will be monitoring the US Fed interest rate decision later tonight as well as guidance over future rate hikes moving into 2023.
“In the meantime, we expect the local bourse to stage further recovery as we approach year-end which typically may see window dressing activities towards the final weeks of the year,” he said.
Bursa heavyweights Maybank added two sen to RM8.77, Public Bank gained nine sen to RM4.44, Petronas Chemicals rose two sen to RM8.50, CIMB bagged seven sen to RM5.83 and Tenaga Nasional earned 13 sen to RM9.34.
Of the actives, SNS was up two sen to 27 sen, Advance Synergy ticked up half-a-sen to 17.5, Top Glove and Borneo Oil stayed flat at 78.5 sen and 2.5 sen respectively, ITMAX ticked up one sen to RM1.39, while Dataprep lost half-a-sen to 25 sen.
On the index board, the FBM Emas Index advanced 73.17 points to 10,652.71, the FBMT 100 Index appreciated by 74.02 points to 10,356.62, and the FBM Emas Shariah Index strengthened 75.10 points to 10,782.91.
The FBM 70 Index edged up 24.53 points to 13,030.53 and the FBM ACE Index climbed 16.09 points to 5,510.99.
Sector-wise, the Financial Services Index was 97.44 points higher at 16,669.57, the Plantation Index went up 54.96 points to 6,740.89, the Industrial Products and Services Index increased 0.77 of-a-point to 181.38, and the Energy Index added 10.64 points to 795.36.
The Main Market volume slightly narrowed to 1.52 billion shares worth RM1.55 billion from 1.55 billion shares worth RM1.49 billion yesterday.
Warrants turnover decreased to 268.73 million units valued at RM65.20 million versus 284.18 million units valued at RM57.91 million yesterday.
The ACE Market volume dropped to 723.65 million shares worth RM284.05 million against 852.07 million shares worth RM290.35 million previously.
Consumer products and services counters accounted for 303.14 million shares traded on the Main Market, industrial products and services (435.81 million); construction (36.13 million); technology (276.91 million); SPAC (nil), financial services (77.28 million); property (81.31 million); plantation (25.87 million); REITs (3.84 million), closed/fund (5,000); energy (75.87 million); healthcare (114.82 million); telecommunications and media (38.09 million); transportation and logistics (35.52 million); and utilities (16.99 million). — Bernama