Kuala Lumpur: Bursa Malaysia closed higher today, driven by bargain hunting and positive cues from Wall Street. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 9.78 points, or 0.65 percent, closing at 1,513.60 compared to the previous day’s close of 1,503.82.
According to BERNAMA News Agency, the benchmark index opened at 1,510.07 and fluctuated between 1,509.40 and 1,515.87 throughout the trading session. Across the broader market, gainers outnumbered decliners with 523 rising stocks against 392, while 416 counters remained unchanged, 1,105 were untraded, and 16 were suspended. The turnover increased to 3.12 billion units, valued at RM2.50 billion, up from 3.01 billion units worth RM1.92 billion the day before.
Rakuten Trade Sdn Bhd’s vice-president of equity research, Thong Pak Leng, noted the FBM KLCI’s positive performance was mainly due to bargain hunting after a series of lackluster trading days. He mentioned that Asian markets advanced broadly, influenced by speculation that the US administration may implement less aggressive tariffs than previously anticipated.
UOB Kay Hian Wealth Advisors Sdn Bhd’s head of investment research, Mohd Sedek Jantan, highlighted that despite heavy selling in China’s tech-related stocks, the Malaysian market remained unaffected. The sell-off in China was attributed to its shift in monetary policy. He added that Malaysian stocks were perceived as a safer alternative, benefiting large-cap stocks in the banking, telecommunications, and consumer sectors.
Key heavyweights like Maybank, CIMB Group, and Tenaga Nasional saw gains, whereas Public Bank and IHH Healthcare experienced declines. Among actively traded stocks, ACE market debutant Wawasan Dengkil and Saudigold saw declines, while others like Borneo Oil remained flat.
On the index board, several indices including the FBM Emas Index, FBMT 100 Index, and FBM Emas Shariah Index posted gains. Sector-wise, gains were seen in Financial Services, Industrial Products and Services, and Energy, while the Plantation Index saw a decline.
Main Market volume increased significantly, while the ACE Market volume and warrants turnover saw declines. The trading activity was spread across various sectors, with consumer products and services leading the volume on the Main Market.