Bursa Malaysia Ends Higher On Positive Sentiment Ahead Of Trump-Xi Meeting

By Siti Noor Afera Abu

KUALA LUMPUR, Oct 24 (Bernama) -- Bursa Malaysia’s benchmark index extended its gains to close higher on Friday, in line with regional markets, as continued bargain-hunting bolstered sentiment ahead of this month’s anticipated meeting between US President Donald Trump and Chinese President Xi Jinping.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.27 points to 1,613.27 from Thursday’s close of 1,608.0.

The market barometer opened 0.97 of-a-point weaker at 1,607.03 and moved between 1,607.03 and 1,615.30 throughout the trading session.

The broader market was positive with 610 gainers outpacing 445 losers, while 537 counters were unchanged, 1,104 untraded, and 12 suspended.

Turnover declined to 2.98 billion units worth RM2.43 billion compared with 3.44 billion units worth RM2.66 billion on Thursday.

Rakuten Trade Sdn Bhd's vice-president of equity research Thong Pak Leng said the meeting may ease concerns over the ongoing trade tensions between the world's two largest economies.

“As for the local bourse, the FBM KLCI remains stuck in a consolidation mode and we reckon a breakout at 1,630 will pave the way for further upside,” he told Bernama.

Among heavyweight counters, Maybank rose six sen to RM9.90, Public Bank added one sen to RM4.22, CIMB increased four sen to RM7.37, and Tenaga Nasional was 10 sen firmer at RM13.22. IHH Healthcare was flat at RM8.33.

On the most active list, Perak Transit and Tanco gained half-a-sen each to 33.5 sen and 88.5 sen, respectively. Zetrix AI lost 1.5 sen to 84 sen, Pharmaniaga fell one sen to 25.5 sen, while TWL was flat at 2.5 sen.

Among the top gainers, Malaysian Pacific Industries rose 28 sen to RM29.98, MI Technovation and MISC climbed 24 sen each to RM3.09 and RM7.75, respectively, KESM advanced 23 sen to RM3.44, and Petronas Gas gained 20 sen to RM18.74.

Among the top decliners, United Plantations decreased 42 sen to RM24.0, Ayer Holdings dipped 38 sen to RM7.02, Fraser & Neave shed 30 sen to RM28.16, and Allianz slipped 26 sen to RM17.88.

On the index board, the FBM Emas Index put on 39.97 points to 12,071.0, the FBMT 100 Index gained 36.66 points to 11,803.59, and the FBM Emas Shariah Index climbed 32.44 points to 12,146.69.

The FBM 70 Index advanced 45.17 points to 17,170.98 and the FBM ACE Index jumped 47.26 points to 5,292.66.

By sector, the Financial Services Index rose 59.37 points to 18,204.63, the Industrial Products and Services Index edged up 0.62 of-a-point to 171.91, the Energy Index perked up 5.58 points to 791.32, while the Plantation Index eased 8.46 points to 7,909.29.

The Main Market volume declined to 1.56 billion units valued at RM2.15 billion from 1.90 billion units valued at RM2.27 billion on Thursday.

Warrants turnover narrowed to 971.32 million units worth RM111.42 million compared with 1.0 billion units worth RM120.24 million yesterday.

The ACE Market volume dwindled to 447.39 million units valued at RM172.25 million from 544.53 million units valued at RM268.54 million previously.

Consumer products and services counters accounted for 3.73 million shares traded on the Main Market, industrial products and services (304.54 million), construction (67.02 million), technology (244.34 million), financial services (60.48 million), property (197.82 million), plantation (27.39 million), real estate investment trusts (18.16 million), closed-end fund (3.500), energy (89.37 million), healthcare (91.84 million), telecommunications and media (33.59 million), transportation and logistics (28.78 million), utilities (26.45 million), and business trusts (600,900).

-- BERNAMA