Kuala lumpur: Continued buying momentum in selected heavyweights pushed Bursa Malaysia to close at its intraday high, marking its fourth consecutive session of strong performance, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.57 points, or 0.56 percent, to 1,541.53 from Monday’s close of 1,532.96. The benchmark index opened 1.03 points higher at 1,533.99 and subsequently hit its lowest level of 1,532.29 in early trade.
According to BERNAMA News Agency, the broader market was broadly positive with 565 gainers outpacing 389 decliners, while 464 counters were unchanged, 956 untraded, and 14 suspended. Turnover slipped to 2.05 billion units worth RM2.15 billion against 3.57 billion units worth RM2.68 billion on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that regional markets also posted gains, supported by stronger local currencies versus the US dollar and optimism that Asian economies could secure trade agreements with US President Donald Trump. Sentiment was further lifted by the United States’ announcement last week that it had concluded a trade agreement with China. At the same time, investors are closely watching developments on the US president’s multi-trillion-dollar tax reform bill, which is currently being debated in the Senate.
Thong added that on the domestic front, there is cautious optimism about the improving local market sentiment, supported by continued foreign buying. He emphasized that the FBM KLCI must hold above the 1,530 level to confirm a sustained upward trajectory, maintaining a weekly target for the index at 1,520-1,550.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd’s head of investment research Mohd Sedek Jantan observed that foreign investors turned net buyers on Bursa Malaysia for the second consecutive day, indicating a potential shift in sentiment amid relatively attractive market valuations. Looking ahead, investor focus remains on Trump’s July 9 tariff deadline and the upcoming US nonfarm payrolls report.
Among heavyweights, Maybank added 2.0 sen to RM9.72, Tenaga Nasional rose 52 sen to RM14.90, while Public Bank declined 5.0 sen to RM4.26, CIMB fell 4.0 sen to RM6.75, and IHH Healthcare shed 2.0 sen to RM6.80. As for the most active stocks, Sapura Energy was flat at 3.5 sen, MyEG went up 1.0 sen to 96 sen, while Tanco decreased 2.5 sen to 89 sen, and Top Glove slid 1.5 sen to 69.5 sen.
On the index board, the FBM Emas Index increased 76.82 points to 11,524.59, the FBMT 100 Index garnered 74.06 points to 11,303.82, and the FBM Emas Shariah Index surged 123.17 points to 11,561.41. The FBM 70 Index jumped 157.76 points to 16,557.37, and the FBM ACE Index climbed 22.08 points to 4,492.01.
By sector, the Financial Services Index shrank 45.94 points to 17,604.64, while the Industrial Products and Services Index edged up 0.47 of-a-point to 154.30, the Plantation Index soared 51.96 points to 7,402.16, and the Energy Index put on 6.26 points to 741.54. The Main Market volume slipped to 1.40 billion units worth RM2.02 billion against 1.52 billion units valued RM2.38 billion on Monday. Warrants turnover tumbled to 426 million units valued at RM45.13 million from 1.75 billion units worth RM210.62 million previously. The ACE Market volume dwindled to 224.45 million units valued at RM83.02 million versus 302.07 million units valued at RM84.63 million yesterday.
Consumer products and services counters accounted for 183.99 million shares traded on the Main Market, industrial products and services (179.86 million), construction (138.74 million), technology (162.14 million), financial services (62.12 million), property (232.21 million), plantation (12.53 million), REITs (27.70 million), energy (178.55 million), healthcare (91.15 million), telecommunications and media (52.60 million), transportation and logistics (11.18 million), utilities (67.83 million), and business trusts (65,300).