Kuala Lumpur: Bursa Malaysia extended its winning streak for a third consecutive day today, buoyed by renewed investor confidence and strategic repositioning, said UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan.
According to Bernama News Agency, Malaysia emerged as the best-performing market in Asia today. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.16 percent, or 17.68 points, to end at its intraday high of 1,535.73 from Wednesday’s close of 1,518.05. The benchmark index opened 4.97 points lower at 1,513.08 and dipped to its intraday low of 1,512.81 before moving upward for the rest of the day.
On the broader market, gainers outpaced decliners 533 to 380, while 456 counters were unchanged, 1,100 untraded, and 160 suspended. Turnover slid to 2.52 billion units valued at RM2.41 billion from 3.11 billion units worth RM2.46 billion on Wednesday.
Mohd Sedek noted that the FBM KLCI maintained its upward momentum throughout the day, breaking the trend observed in recent days. This persisted despite concerns over US President Donald Trump’s proposed auto tariffs, which could disrupt global supply chains. He highlighted the index’s breach of the 1,520 and 1,527 levels, signaling an uplift in investor sentiment. Sustained liquidity reflects a market that remains fundamentally active, with domestic investors offsetting external pressures.
Reinforcing this resilience, Bank Negara Malaysia released its Second Half 2024 Financial Stability Review earlier this week, affirming the banking sector’s robustness. The central bank’s assessment suggests the sector remains well-capitalised and capable of withstanding external shocks.
Heavyweights like Tenaga Nasional, Maybank, IHH Healthcare, CIMB Group, and Public Bank saw notable gains. Among actives, Gamuda surged, Pos Malaysia added value, while MY EG Services, Axiata Group, and Pertama Digital experienced declines.
On the index board, the FBM Emas, FBMT 100, FBM Emas Shariah, FBM 70, and FBM ACE Index showed significant increases. Sector-wise, the Financial Services, Industrial Products and Services, and Energy Index advanced, while the Plantation Index declined.
The Main Market volume eased slightly, while warrants turnover and ACE Market volume experienced more significant drops. Various sectors, including consumer products, industrial products, and technology, saw active trading on the Main Market.