BURSA MALAYSIA ENDS WEEK ON POSITIVE NOTE IN LINE WITH REGIONAL PEERS 

By Karina Imran

KUALA LUMPUR, June 28 (Bernama) -- Bursa Malaysia ended the week on a positive tone in tandem with the upbeat performance across the region with buying mainly in telecommunications stocks. 

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.33 per cent or 5.15 points to an intraday high of 1,590.09 from Thursday's close of 1,584.94.

The benchmark index, which opened 1.41 points weaker at 1,583.53, slipped to its lowest point at 1,581.52 in the early session.

On the broader market, gainers thumped decliners 673 to 411, with 488 counters unchanged, 841 untraded and 45 others suspended.

Turnover improved to 4.30 billion units worth RM3.08 billion from yesterday's 4.23 billion units worth RM3.13 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices ended mostly higher on bargain hunting. 

At the same time, investors' confidence was further supported by the view that cooling United States inflation data might prompt the Federal Reserve (Fed) to lower rates this year.

"On the local exchange, the FBM KLCI continues its retracement this week but experienced a small rebound today.

"Despite this rebound, we foresee that the FBM KLCI may undergo further consolidation and establish a base in the short to mid-term," he told Bernama. 

Meanwhile, UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the technology, healthcare, and telecommunications sectors led today's trading.

He said although the market bellwether closed higher today, the overall market sentiment remained weak as investors awaited fresh leads. 

"Traders will be watching the US personal consumption expenditures (PCE) data, set to be released later tonight, for further clarity on the Fed’s direction moving forward," he said. 

Back home, Bursa Malaysia heavyweights Maybank was flat at RM9.96, Tenaga Nasional dropped 16 sen to RM13.78, CIMB gained three sen to RM6.80, and Public Bank and IHH Healthcare added two sen each to RM4.02 and RM6.30, respectively. 

As for the most active counters, Borneo Oil inched up half-a-sen to one sen, Nova MSC climbed two sen to 21.5 sen, MY E.G. edged up five sen to RM1.02, and Ingenieur Gudang slid one sen to five sen. 

On the index board, the FBM Emas Index increased 55.56 points to 12,216.40, the FBMT 100 Index garnered 50.52 points to 11,798.06, the FBM Emas Shariah Index rose 56.46 points to 12,552.70, the FBM 70 Index surged 121.74 points to 17,841.89, and the FBM ACE Index gained 84.30 points to 5,773.28.

Sector-wise, the Financial Services Index put on 34.41 points to 17,454.73, the Energy Index perked up 5.80 points to 955.42, the Industrial Products and Services Index edged up 0.6 of-a-point to 195.85, and the Plantation Index climbed 31.90 points to 6,982.72. 

The Main Market volume was marginally higher at 2.37 billion units valued at RM2.69 billion from 2.36 billion units valued at RM2.74 billion on Thursday. 

Warrants turnover climbed to 1.09 billion units worth RM135.71 million compared with 1.05 billion units worth RM124.38 million previously. 

The ACE Market volume expanded to 841.89 million shares valued at RM256.32 million against 816.94 million shares valued at RM273.74 million yesterday. 

Consumer products and services counters accounted for 308.15 million shares traded on the Main Market; industrial products and services (769.33 million), construction (243.7 million); technology (290.46 million); SPAC (nil); financial services (90.32 million); property (279.96 million), plantation (22.84 million), REITs (13.22 million), closed/fund (6,600), energy (140.52 million); healthcare (37.75 million); telecommunications and media (60.06 million); transportation and logistics (42.62 million); utilities (72 million); and business trusts (603,600).

-- BERNAMA