KUALA LUMPUR: Bursa Malaysia ended the trading day marginally higher, with gains in plantation counters offset by profit-taking activities involving selected financial services heavyweights linked to the index. At the close of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) recorded a minor increase of 1.19 points, or 0.075 percent, reaching 1,595.48, compared to the previous close of 1,594.29.
According to BERNAMA News Agency, the index experienced fluctuations throughout the day, opening 2.55 points higher at 1,596.84 and oscillating between 1,593.37 and 1,603.94. The broader market saw decliners outnumbering gainers with 549 to 497, while 490 counters remained unchanged, 879 were not traded, and 15 were suspended. Turnover decreased to 2.83 billion units valued at RM2.37 billion, down from 3.43 billion units valued at RM3.19 billion on the preceding trading day.
Rakuten Trade Sdn Bhd’s equity research vice-president, Thong Pak Leng, noted that the FBM KLCI traded within a narrow range as investor cautio
n, driven by foreign selling, impeded the benchmark index from sustaining the 1,600 mark. Meanwhile, regional markets surged, notably in China and Hong Kong, buoyed by China’s November manufacturing data surpassing expectations, supported by recent aggressive stimulus measures.
Thong also highlighted the forthcoming release of the US manufacturing Purchasing Managers’ Index (PMI) later today and the SandP Global Composite PMI on Wednesday. He recommended maintaining caution amid rising volatility and suggested investors accumulate blue-chip stocks with strong fundamentals that have experienced significant declines, as they present attractive valuations. Rakuten Trade anticipates the FBM KLCI to continue its sideways trading pattern within the 1,590-1,610 range for the week.
Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors, attributed today’s market stability to Wall Street’s robust performance last Friday, with gains mainly driven by strong momentum in aluminium producers follo
wing solid earnings results. He anticipates a potential rebound in the index in December after its 0.60 percent decline in November, citing historical data from 2003 to 2023 that shows positive returns for the FBM KLCI in December on 16 occasions, with only five instances of negative performance.
In terms of heavyweight counters, Maybank fell by 12 sen to RM10.08, CIMB decreased by four sen to RM8.21, Tenaga Nasional dropped 18 sen to RM13.48, and IHH declined by six sen to RM7.20, while Public Bank remained unchanged at RM4.47. Among active stocks, Velesto Energy and Aimflex each declined by half a sen to 15.5 sen, while Sapura Energy, Capital A, and Saudigold remained flat at four sen, RM1, and two sen, respectively.
On the index board, the FBM Emas Index gained 16.90 points to 12,148.03, the FBMT 100 Index increased by 14.30 points to 11,838.09, and the FBM 70 Index rose by 41.63 points to 17,901.45. The FBM Emas Shariah Index expanded by 75.59 points to 12,110.28, whereas the FBM ACE Index decreased by
8.98 points to 5,122.67.
Sector-wise, the Financial Services Index fell by 143.41 points to 19,046.62, while the Plantation Index gained 139.74 points to 7,671.56. The Industrial Products and Services Index climbed 3.28 points to 173.57, but the Energy Index declined by 3.68 points to 808.61.
Main Market volume decreased to 1.55 billion units worth RM2.16 billion, compared to last Friday’s 1.93 billion units worth RM2.93 billion. Warrants turnover increased to 886.00 million units valued at RM80.89 million, up from 823.80 million units valued at RM77.47 million previously. The ACE Market volume decreased to 395.42 million units worth RM127.40 million, down from 676.04 million units worth RM177.21 million on Friday.
Consumer products and services counters accounted for 285.04 million shares traded on the Main Market, industrial products and services 345.65 million, construction 90.53 million, technology 163.92 million, financial services 88.42 million, property 164.73 million, plantation 69.15 million, REIT
s 9.64 million, energy 162.40 million, healthcare 58.06 million, telecommunications and media 34.47 million, transportation and logistics 37.82 million, utilities 38.34 million, and business trusts 109,700.