Bursa Malaysia Gains as Banking and Telecom Stocks Drive Market Higher
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Bursa Malaysia defied the regional downtrend at midday, buoyed by strong performances in the $Bursa Finance Services (0010I.MY)$ and $Bursa Telecommunications & Media (0063I.MY)$ sectors. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rose 0.71%, gaining 11.71 points to settle at 1,650.67, up from Monday’s close of 1,638.96. The index opened slightly higher at 1,639.16 and fluctuated between 1,639.16 and 1,653.12 during the morning session.
Market Breadth and Turnover
Despite the gains in the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$, broader market sentiment was mixed, with 514 losers outpacing 409 gainers, while 431 counters remained unchanged. Turnover amounted to 1.71 billion shares valued at RM1.35 billion.
Sector and Stock Performance
• Heavyweights Leading the Gains:
• $MAYBANK (1155.MY)$: Gained 10 sen to RM10.54.
• $PBBANK (1295.MY)$: Rose 6 sen to RM4.51.
• $CDB (6947.MY)$: Added 9 sen to RM5.82.
Market Breadth and Turnover
Despite the gains in the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$, broader market sentiment was mixed, with 514 losers outpacing 409 gainers, while 431 counters remained unchanged. Turnover amounted to 1.71 billion shares valued at RM1.35 billion.
Sector and Stock Performance
• Heavyweights Leading the Gains:
• $MAYBANK (1155.MY)$: Gained 10 sen to RM10.54.
• $PBBANK (1295.MY)$: Rose 6 sen to RM4.51.
• $CDB (6947.MY)$: Added 9 sen to RM5.82.
• Together, these stocks contributed 10.26 points to the gains in the composite index.
• Other Notable Movements:
• $CIMB (1023.MY)$: Increased by 6 sen to RM7.95.
• $PMETAL (8869.MY)$: Rose by 6 sen to RM5.27.
• $PCHEM (5183.MY)$: Gained 9 sen to RM5.82.
• $HLBANK (5819.MY)$: Increased by 4 sen to RM20.14.
• $CIMB (1023.MY)$: Increased by 6 sen to RM7.95.
• $PMETAL (8869.MY)$: Rose by 6 sen to RM5.27.
• $PCHEM (5183.MY)$: Gained 9 sen to RM5.82.
• $HLBANK (5819.MY)$: Increased by 4 sen to RM20.14.
• Declining Heavyweights:
• $TENAGA (5347.MY)$: Fell 2 sen to RM13.90.
• $IHH (5225.MY)$: Eased 1 sen to RM6.30.
Active Counters
• $VELESTO (5243.MY)$: Added half-a-sen to 22 sen.
• $ELRIDGE (0318.MY)$: Rose 2.5 sen to 47.5 sen.
• $CEB (5311.MY)$ : Eased half-a-sen to 38 sen.
• $NOTION (0083.MY)$: Dropped 4 sen to RM1.04.
• $MYEG (0138.MY)$: Remained unchanged at 90 sen.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Gained 76.90 points to 12,429.21.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Increased by 45.22 points to 12,337.83.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Rose 84.44 points to 12,116.96.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Advanced 118.80 points to 17,844.38.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Declined 22.71 points to 5,184.46.
Sectoral Indices
• $Bursa Finance Services (0010I.MY)$: Surged by 219.55 points to 19,260.42, reflecting strong performance in banking stocks.
• $Bursa Energy (0061I.MY)$: Rose 11.87 points to 947.31, supported by rising oil prices.
• $Bursa Industrial Products & Services (0002I.MY)$: Increased by 0.24 points to 183.13.
Conversely, the $Bursa Plantation (0025I.MY)$ fell by 6.27 points to 7,216.11.
Market Sentiment
Positive sentiment in the local market was driven by strong buying in $Bursa Finance Services (0010I.MY)$ and $Bursa Telecommunications & Media (0063I.MY)$ heavyweights. This contrasts with the performance of regional markets, with indices in Singapore, Hong Kong, and South Korea posting declines. Investors remain optimistic about the domestic market’s resilience amid mixed global cues and profit-taking in the technology sector on Wall Street.
• $TENAGA (5347.MY)$: Fell 2 sen to RM13.90.
• $IHH (5225.MY)$: Eased 1 sen to RM6.30.
Active Counters
• $VELESTO (5243.MY)$: Added half-a-sen to 22 sen.
• $ELRIDGE (0318.MY)$: Rose 2.5 sen to 47.5 sen.
• $CEB (5311.MY)$ : Eased half-a-sen to 38 sen.
• $NOTION (0083.MY)$: Dropped 4 sen to RM1.04.
• $MYEG (0138.MY)$: Remained unchanged at 90 sen.
Index Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Gained 76.90 points to 12,429.21.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Increased by 45.22 points to 12,337.83.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Rose 84.44 points to 12,116.96.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Advanced 118.80 points to 17,844.38.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Declined 22.71 points to 5,184.46.
Sectoral Indices
• $Bursa Finance Services (0010I.MY)$: Surged by 219.55 points to 19,260.42, reflecting strong performance in banking stocks.
• $Bursa Energy (0061I.MY)$: Rose 11.87 points to 947.31, supported by rising oil prices.
• $Bursa Industrial Products & Services (0002I.MY)$: Increased by 0.24 points to 183.13.
Conversely, the $Bursa Plantation (0025I.MY)$ fell by 6.27 points to 7,216.11.
Market Sentiment
Positive sentiment in the local market was driven by strong buying in $Bursa Finance Services (0010I.MY)$ and $Bursa Telecommunications & Media (0063I.MY)$ heavyweights. This contrasts with the performance of regional markets, with indices in Singapore, Hong Kong, and South Korea posting declines. Investors remain optimistic about the domestic market’s resilience amid mixed global cues and profit-taking in the technology sector on Wall Street.
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