Bursa Malaysia Ends Higher On ASEAN Summit Optimism, Regional Cues
By Abdul Hamid A Rahman
KUALA LUMPUR, Oct 27 (Bernama) -- Bursa Malaysia closed higher today, supported by optimism surrounding the ongoing ASEAN Summit, which bolstered confidence in regional economic cooperation, and in tandem with gains across regional markets.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.11 points, or 0.32 per cent, to 1,618.38 from Friday’s close of 1,613.27.
The benchmark index opened 6.84 points firmer at 1,620.11 and moved between 1,617.45 and 1,623.23 throughout the trading session.
Market breadth was mixed with 543 gainers matching 543 losers, while 540 counters were unchanged, 1,099 untraded, and 12 suspended.
Turnover expanded to 3.44 billion units worth RM2.91 billion compared with 2.98 billion units worth RM2.43 billion last Friday.
Regionally, Hong Kong’s Hang Seng Index rose 1.05 per cent to 26,433.70, South Korea’s Kospi Index soared 2.57 per cent to 4,042.83, and Japan’s Nikkei 225 Index surged 2.46 per cent to 50,512.32.
Singapore’s Straits Times Index increased 0.41 per cent to 4,440.30, and China’s SSE Composite Index gained 1.18 per cent to 3,996.94.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional sentiment continued to improve with equities moving higher, driven by growing investor confidence in a potential US rate cut and encouraging signs from the US-China trade discussions.
“On the domestic front, sentiment has also turned more positive amid improving geopolitical and economic developments, providing investors with some relief after weeks of uncertainty,” he told Bernama.
Meanwhile, US Treasury Secretary Scott Bessent told CBS that the US and China have agreed the framework of a possible trade deal, which will be discussed when their respective leaders meet later this week.
Among heavyweights, Maybank added one sen to RM9.91, CIMB Group rose eight sen to RM7.45, Tenaga Nasional gained 14 sen to RM13.36, and IHH Healthcare increased two sen to RM8.35, while Public Bank was unchanged at RM4.22.
On the most active list, ACE Market dubutant Insights Analytics surged 29.5 sen to 65.5 sen, Top Glove added one sen to 68.5 sen, and Tanco edged up half-a-sen to 89 sen, while Land & General slid one sen to 15.5 sen. TWL Holdings and Perak Transit were flat at 2.5 sen and 33.5 sen respectively.
Top gainers included UMS Integration which rose RM1.08 to RM5.80, Malaysian Pacific Industries added 56 sen to RM30.54, and United Plantations advanced 50 sen to RM24.50, while Kuala Lumpur Kepong and Fraser & Neave rose 38.0 sen each to RM20.90 and RM28.54 respectively.
Top decliners included Nestle, which declined RM1.40 to RM106.60, Dutch Lady slipped 20 sen to RM26.10. Petronas Gas and Hi Mobility shed 14 sen to RM18.60 and RM2.38 respectively, while Eco-Shop Marketing fell 11 sen to RM1.44.
-- BERNAMA
