Bursa Malaysia rebounds to close higher

KUALA LUMPUR: Bursa Malaysia rebounded from yesterday’s losses to close higher today, and bucked the regional trend which saw key bourses – Japan, Hong Kong and Singapore, are all in the red, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished Thursday trading at 1,675.83, up 7.72 points from Wednesday’s close of 1,668.11.

The barometer index moved between 1,666.22 and 1,680.78 throughout the day, after opening 7.05 points better at 1,675.16.

Total volume was slightly higher at 1.76 billion shares worth RM1.22 billion versus 1.68 billion shares worth RM951.04 million yesterday.

As for market breadth, both gainers and losers were matched at 366 respectively, while 379 counters were unchanged, 748 untraded and 21 others suspended.

Basically, the uptrend seen in the local index was quite fragile, said Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.

“Currently, the market moving news is the purchasing managers index reports, especially in China as well as in ASEAN region, which weighed on the indices today.

“This indicates that business sentiments have turned pessimistic, which could affect important decisions such as capital expenditure and labour hiring,” he told Bernama.

He said the next thing to watch is the US labour market condition wherein the unemployment rate is expected to maintain at 3.7% in December, the lowest since 2000.

“The concern is about how the US Federal Reserve would respond to this,” he added.

Among heavyweights, Maybank fell three sen to RM9.36, Public Bank declined six sen to RM24.60, Tenaga however jumped 32 sen to RM13.76 and Petronas Chemicals was eight sen higher at RM9.32.

Of actives, Gamuda rose four sen to RM2.29, Ahmad Zaki gained 3.5 sen to 33.5 sen, but KNM shed half-a-sen to 7.5 sen and IHH was flat at RM5.34.

Japan’s Nikkei 225 declined 62.85 points to 20, 014.77, Hong Kong’s Hang Seng slipped 65.99 points to 25,057.760 and Singapore Straits Times Index was 26.69 points weaker at 3,012.20.

The FBM Emas Index rose 43.98 points to 11,436.41, the FBMT 100 Index increased 42.21 points to 11,353.42 and the FBM Emas Shariah Index gained 74.26 points to 11,399.22.

The FBM Ace Index was 25.39 points lower at 4,264.15 and the FBM 70 climbed 27.55 points to 13,012.60.

Sector-wise, the Industrial Products and Services Index edged up 0.30 of-a-point to 165.74, the Finance Index advanced 32.93 points to 17,217.88 while the Plantation Index improved 91.18 points to 6,855.27.

Main Market volume rose to 1.28 billion shares worth RM1.14 billion from 1.12 billion shares worth RM824.05 million on Wednesday.

Warrants turnover fell to 272.20 million units valued at RM59.72 million from 358.33 million units valued at RM89.92 million yesterday.

Volume on the ACE Market declined to 167.09 million shares worth RM26.15 million versus 176.06 million shares worth RM36.1 million.

Consumer products and services accounted for 152.95 million shares traded on the Main Market, industrial products and services (492.16 million), construction (83.34 million), technology (157.58 million), SPAC (596,000), financial services (24.11 million), property (55.12 million), plantations (17.18 million), REITs (21.23 million), closed/fund (nil), energy (178.60 million), healthcare (17.53 million), telecommunications and media (20 million), transportation and logistics (46.30 million), and utilities (10.35 million).