Kuala Lumpur: Bursa Malaysia rebounded from yesterday’s performance, ending the day at its intraday high, driven by bargain hunting in sectors such as technology, energy, construction, and consumer stocks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.94 points or 1.01 percent to close at 1,501.19, up from Tuesday’s close of 1,486.25.
According to BERNAMA News Agency, Rakuten Trade Sdn Bhd’s equity research vice-president, Thong Pak Leng, noted that optimism returned to key regional indices following US President Donald Trump’s recent comments. Trump ruled out firing Federal Reserve chair Jerome Powell and suggested a more conciliatory approach towards China with potentially lower tariffs. He expressed interest in a trade deal with China and downplayed the likelihood of imposing 145 percent tariffs, though he cautioned about unilateral terms if Beijing abstained from negotiations.
Thong commented that this news offered reassurance to investors and could stabilize sentiment. He predicted the benchmark index to remain between 1,490 and 1,510 this week. UOB Kay Hian Wealth Advisors Sdn Bhd’s head of investment research, Mohd Sedek Jantan, emphasized that the FBM KLCI’s close above the psychological 1,500 threshold underscored the resilience of domestic market sentiment. He attributed the rally to an improvement in investor confidence due to Trump’s unexpected stance and reassurance about Powell.
Mohd Sedek noted that Treasury Secretary Scott Bessent’s remarks at an investor summit in Washington further supported the market’s positive shift. Bessent expressed confidence in the potential for US-China trade tensions to de-escalate soon, offering reassurance amid geopolitical uncertainties. Mohd Sedek highlighted that the upcoming sessions on Thursday and Friday would be critical for the index. If the FBM KLCI maintains its position above the 1,500 mark and tests the 1,515 level, it could sustain momentum and attract foreign institutional interest.
Among the heavyweights, Public Bank increased by 3.0 sen to RM4.40, Tenaga Nasional and CIMB rose by 10 sen each to RM13.50 and RM6.85, respectively, IHH Healthcare added 2.0 sen to RM6.86, while Maybank remained unchanged at RM9.95. In terms of actives, Richtech Digital climbed 8.5 sen to 27 sen, Pertama Digital increased by 1.0 sen to 13.5 sen, and Nationgate gained 5.0 sen to RM1.21. My E.G. Services and Tanco remained flat at 89 sen and 84.5 sen, respectively.
On the index board, the FBM Emas Index advanced 122.58 points to 11,121.60, while the FBMT 100 Index increased by 115.80 points to 10,902.76. The FBM Emas Shariah Index jumped 148.20 points to 10,946.64, the FBM 70 Index surged 194.49 points to 15,550.88, and the FBM ACE Index climbed 41.59 points to 4,602.69. Sector-wise, the Financial Services Index rose 88.26 points to 17,938.21, the Industrial Products and Services Index increased by 2.73 points to 145.19, and the Energy Index gained 7.30 points to 661.73, though the Plantation Index eased by 1.83 points to 7,214.49.
The Main Market volume improved to 1.37 billion units worth RM1.83 billion from the previous day’s 1.25 billion units worth RM1.37 billion. Warrants turnover decreased to 1.19 billion units valued at RM117.86 million, compared to 1.90 billion units valued at RM194.42 million the day before. The ACE Market volume surged to 427.40 million units worth RM130.50 million, up from 274.01 million units worth RM97.09 million on Tuesday.
Consumer products and services counters saw 208.48 million shares traded on the Main Market, with industrial products and services at 225.02 million, construction at 104.12 million, technology at 268.28 million, financial services at 102.97 million, and various other sectors contributing to the day’s volume.