Bursa Malaysia Hits Three-Year High Amid Rate Cut Optimism
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Bursa Malaysia ended on a high note today, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ rising 7.58 points, or 0.47%, to close at 1,633.54. This fresh three-year high aligns with global market optimism driven by expectations of a US Federal Reserve rate cut.
Key Performers and Laggards
• Top Gainers: $TENAGA (5347.BMS)$ and $PBBANK (1295.BMS)$ both firmed by four sen, $PMETAL (8869.BMS)$ increased by one sen, $PCHEM (5183.BMS)$ went up seven sen, and $CDB (6947.BMS)$ added 10 sen.
• Flat or Declining: $IHH (5225.BMS)$ remained flat, while $MAYBANK (1155.BMS)$ fell by two sen.
Market Trends
The market saw an increase in turnover to 5.28 billion units worth RM3.87 billion, with gainers outnumbering losers 770 to 445. $Bursa Construction (0003I.BMS)$ led with a more than 3% increase, driven by anticipation of increased contract awards.
Sector Overview
• $Bursa Energy (0061I.BMS)$: Slipped 3.82 points.
• $Bursa Finance Services (0010I.BMS)$: Advanced 34.11 points.
• $Bursa Plantation (0025I.BMS)$: Climbed 92.41 points.
• $Bursa Industrial Products & Services (0002I.BMS)$: Increased by 0.67 points.
Regional Performance
Regional markets had mixed results, with Japan’s $Nikkei 225 (.N225.JP)$ slightly down, while Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ showed modest gains.
Insights and Outlook
The positive sentiment in Bursa Malaysia is supported by attractive valuations, rising investor confidence, and strong foreign buying. If the $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ holds above the 1,630 level, further upward potential is expected, with resistance in the range of 1,650-1,660.
• Top Gainers: $TENAGA (5347.BMS)$ and $PBBANK (1295.BMS)$ both firmed by four sen, $PMETAL (8869.BMS)$ increased by one sen, $PCHEM (5183.BMS)$ went up seven sen, and $CDB (6947.BMS)$ added 10 sen.
• Flat or Declining: $IHH (5225.BMS)$ remained flat, while $MAYBANK (1155.BMS)$ fell by two sen.
Market Trends
The market saw an increase in turnover to 5.28 billion units worth RM3.87 billion, with gainers outnumbering losers 770 to 445. $Bursa Construction (0003I.BMS)$ led with a more than 3% increase, driven by anticipation of increased contract awards.
Sector Overview
• $Bursa Energy (0061I.BMS)$: Slipped 3.82 points.
• $Bursa Finance Services (0010I.BMS)$: Advanced 34.11 points.
• $Bursa Plantation (0025I.BMS)$: Climbed 92.41 points.
• $Bursa Industrial Products & Services (0002I.BMS)$: Increased by 0.67 points.
Regional Performance
Regional markets had mixed results, with Japan’s $Nikkei 225 (.N225.JP)$ slightly down, while Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ showed modest gains.
Insights and Outlook
The positive sentiment in Bursa Malaysia is supported by attractive valuations, rising investor confidence, and strong foreign buying. If the $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ holds above the 1,630 level, further upward potential is expected, with resistance in the range of 1,650-1,660.
$HEIM (3255.BMS)$ $KLK (2445.BMS)$ $GAMUDA (5398.BMS)$ $PPB (4065.BMS)$ $THETA (9075.BMS)$ $F&N (3689.BMS)$ $IJM (3336.BMS)$ $UTDPLT (2089.BMS)$ $BURSA (1818.BMS)$ $MCEMENT (3794.BMS)$ $GESHEN (7197.BMS)$ $ABMB (2488.BMS)$ $LGMS (0249.BMS)$ $EDARAN (5036.BMS)$ $GENP (2291.BMS)$ $LYSAGHT (9199.BMS)$ $QL (7084.BMS)$ $CDB (6947.BMS)$ $SUNCON (5263.BMS)$ $FAREAST (5029.BMS)$ $MAGNUM (3859.BMS)$ $IOICORP (1961.BMS)$ $BMGREEN (0168.BMS)$ $KOSSAN (7153.BMS)$ $SNS (0259.BMS)$ $KERJAYA (7161.BMS)$ $WCT (9679.BMS)$ $EG (8907.BMS)$
$EKOVEST (8877.BMS)$ $VELESTO (5243.BMS)$ $BJCORP (3395.BMS)$ $SNS (0259.BMS)$ $MRCB (1651.BMS)$ $MYEG (0138.BMS)$ $CENSOF (5195.BMS)$ $WCT (9679.BMS)$ $IWCITY (1589.BMS)$ $JPG (5323.BMS)$ $CFM (8044.BMS)$ $ARMADA (5210.BMS)$ $NOVAMSC (0026.BMS)$ $JCY (5161.BMS)$ $MUIIND (3891.BMS)$ $SIMEPROP (5288.BMS)$ $GBGAQRS (5226.BMS)$ $IJM (3336.BMS)$ $MLAB (0085.BMS)$ $ALPHA (0303.BMS)$ $HUBLINE (7013.BMS)$ $YGL (0086.BMS)$ $TECHNAX (2739.BMS)$ $AGX (0299.BMS)$
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