Bursa Malaysia Ends Higher On Improved Regional Sentiment

By Abdul Hamid A Rahman

KUALA LUMPUR, Dec 2 (Bernama) -- Bursa Malaysia’s key index sustained its uptrend but closed off its intraday high as investor sentiment continued to improve amid broad gains across major Asian markets, said an analyst.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 6.03 points, or 0.37 per cent, to 1,630.60 from Monday’s close of 1,624.57.

The benchmark index, which opened 2.50 points firmer at 1,627.07, moved between 1,624.47 and 1,634.35 throughout the day. 

However, the broader market was negative, with decliners outpacing gainers 606 to 489. A total of 577 counters were unchanged, 1,016 untraded, and 10 suspended.

Turnover narrowed to 3.93 billion units worth RM3.32 billion from 3.99 billion units worth RM2.79 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said that rising expectations of a potential US Federal Reserve rate cut lifted risk appetite despite firmer US Treasury yields.

“Softer US data, including slowing manufacturing activity and retail sales, further strengthened hopes for monetary easing and supported regional equities,” he told Bernama.

Locally, he said the market remains resilient, backed by steady institutional inflows and confidence in the strong fundamentals of domestic corporates.

“Sentiment was also boosted after Prime Minister Datuk Seri Anwar Ibrahim announced Intel’s additional RM860 million investment to expand its Malaysian operations, a move expected to attract further capital and create new jobs,” he added.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the FBM KLCI closed higher for a second consecutive day, supported by sustained bargain hunting and improved regional optimism, particularly in the technology sector.

“Within the index, banking stocks led the advance. All five banking constituents ended the session in positive territory, with the strongest performer gaining 3.71 per cent.

“This outperformance reflects firmer macroeconomic momentum, stable interest margins, and benign credit costs underpinned by resilient asset quality,” he added.

Among heavyweights, Maybank jumped 37 sen to RM10.34, Public Bank and CIMB Group advanced five sen each to RM4.41 and RM8.00, respectively, while Tenaga Nasional slipped 58 sen to RM12.74 and IHH Healthcare shed four sen to RM8.36.

On the most active list, Capital A surged 15.5 sen to 40 sen, Zetrix AI added two sen to 83.5 sen, Velesto Energy improved 1.5 sen to 24 sen, while Genting Malaysia fell 10 sen to RM2.25 and Tanco eased five sen to RM1.11.

Top gainers included Nestle which rose RM8.60 to RM120.20, Fraser & Neave increased RM1.48 to RM36.36, Allianz Malaysia climbed 40 sen to RM19.90, Hong Leong Industries advanced 32 sen to RM15.96, and Malayan Cement gained 25 sen to RM6.90.

Among the top losers, PPB Group slid 48 sen to RM10.10, United Plantations declined 38 sen to RM28.00, Chin Teck Plantations fell 20 sen to RM10.80, Gamuda gave up 15 sen to RM5.15, while Lim Seong Hai Capital slipped 14 sen to RM2.00.

On the index board, the FBM Emas Index rose 32.42 points to 12,031.29, the FBM Emas Shariah Index slipped 55.34 points to 11,848.12, the FBMT 100 Index increased 31.33 points to 11,821.59, the FBM ACE Index declined 51.04 points to 4,780.87, and the FBM Mid 70 Index eased 9.83 points to 16,726.00.

Sector-wise, the Financial Services Index jumped 325.53 points to 19,110.98, the Industrial Products and Services Index was unchanged at 165.96, the Energy Index perked up 0.96 of-a-point to 750.41, and the Plantation Index increased 57.18 points to 8,091.10.

The Main Market volume expanded to 1.65 billion units worth RM2.94 billion from 1.45 billion units worth RM2.34 billion on Monday.

Warrants turnover shrank to 1.89 billion units worth RM249.52 million against 2.19 billion units worth RM321.14 million previously.

The ACE Market volume improved to 384.24 million units valued at RM126.05 million versus 341.26 million units valued at RM126.54 million yesterday.

Consumer products and services counters accounted for 462.00 million shares traded on the Main Market, industrial products and services (218.85 million), construction (87.23 million), technology (214.73 million), financial services (105.25 million), property (172.57 million), plantation (79.47 million), real estate investment trusts (31.27 million), closed-end fund (27,300), energy (108.82 million), healthcare (51.87 million), telecommunications and media (40.49 million), transportation and logistics (32.00 million), utilities (50.87 million), and business trusts (13,700).

-- BERNAMA