Kuala lumpur: Bursa Malaysia concluded its morning trading session on a positive note, with the FTSE Bursa Malaysia KLCI (FBM KLCI) increasing by 1.09 percent, in line with the predominantly positive performance in regional markets as investors await key data releases.
According to BERNAMA News Agency, the FBM KLCI climbed 17.51 points to reach 1,621.98, a rise from last Friday’s closing figure of 1,604.47. The index, which began the day 3.79 points higher at 1,608.26, fluctuated between 1,608.26 and 1,624.90 within the morning trading period.
Despite the positive movement of the benchmark index, the broader market experienced a downturn, with 559 decliners outnumbering 476 gainers. Additionally, 488 counters remained unchanged, 1,166 were not traded, and 10 were suspended. The turnover for the session was 2.66 billion units, valued at RM1.30 billion.
Investor attention is focused on several upcoming data releases that may influence the United States Federal Reserve’s policy direction, including private hiring statistics, services activity data, and the Personal Consumption Expenditure (PCE) index.
Hong Leong Investment Bank Bhd (Hong Leong IB) reported that Wall Street ended November positively, with a shortened post-Thanksgiving session yielding moderate gains. The research note highlighted improved risk appetite as markets anticipated an 86 percent probability of a 25 basis points rate cut by the Federal Reserve on December 10.
In Malaysia, Hong Leong IB noted potential volatility for the FBM KLCI in the near term as investors process the outcomes of the Sabah election and consider a possible cabinet reshuffle. Prime Minister Datuk Seri Anwar Ibrahim might use such a move to enhance Federal-Sabah relations and demonstrate increased inclusivity amid evolving political dynamics.
The new coalition government in Sabah, led by Chief Minister Datuk Seri Hajiji Noor, is expected to align closely with the Prime Minister’s Madani administration and national objectives, stated Hong Leong IB. Given this context, along with expectations of a Fed rate cut and stable November results, the FBM KLCI is poised for a technical rebound in the traditionally stronger month of December, following declines in October and November.
Among the heavyweights, Maybank rose by 6.0 sen to RM9.97, Public Bank increased 1.0 sen to RM4.36, CIMB advanced 28 sen to RM7.93, Tenaga Nasional climbed 34 sen to RM13.52, and IHH Healthcare edged up 1.0 sen to RM8.27.
On the active list, Tanco gained 2.0 sen to RM1.15, and TWL increased half-a-sen to 3.0 sen. Inari Amertron dropped 20 sen to RM1.99, while Zetrix AI and Perak Transit remained steady at 82.5 sen and 26 sen, respectively.
Top gainers included Nestle, which rose RM1.80 to RM108.70, BLD Plantation increased 70 sen to RM16.50, Hong Leong Industries gained 64 sen to RM15.64, Dutch Lady went up 40 sen to RM30.40, and Petronas Dagangan strengthened 60 sen to RM20.42.
Among the top losers, PPB Group fell 30 sen to RM10.70, Kuala Lumpur Kepong decreased 42 sen to RM19.78, Can-One declined 20 sen to RM1.65, and Gamuda dropped 13 sen to RM5.22.
On the index board, the FBM Emas Index increased by 85.62 points to 12,001.59, the FBM Emas Shariah Index rose by 50.57 points to 11,901.47, the FBMT 100 Index gained 89.03 points to 11,790.00, and the FBM ACE Index went up 1.22 points to 4,825.84, whereas the FBM Mid 70 Index fell by 39.46 points to 16,816.62.
Sector-wise, the Financial Services Index surged 210.17 points to 18,786.12, the Energy Index increased by 2.15 points to 749.93, and the Industrial Products and Services Index added 1.60 points to 165.63, while the Plantation Index decreased by 4.92 points to 8,067.20.