Bursa Malaysia Reaches 44-Month High on Strong Economic Growth
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Bursa Malaysia closed at its highest level in 44 months, driven by strong economic data and positive sentiment across the market. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.53%, gaining 24.80 points to close at 1,648.70, its best performance since December 2020. The index peaked at an intraday high of 1,653.35, reflecting broad-based gains across key sectors.
Investor confidence was bolstered by Malaysia’s robust second-quarter GDP growth of 5.9%, surpassing expectations, along with July 2024 trade figures, which showed an 18.9% year-on-year surge to RM255.88 billion, the highest trade value since October 2022. These positive indicators highlighted the resilience of the domestic economy, further supported by improving foreign investor sentiment. Foreign funds returned to the market, recording net purchases of RM299.6 million in Malaysian equities, a reversal from the previous week’s net disposals.
Heavyweight and Active Stocks
Key heavyweights led the rally, with $MAYBANK (1155.BMS)$ up 34 sen to RM10.60, $CIMB (1023.BMS)$ rising 31 sen to RM7.97, $TENAGA (5347.BMS)$ gaining 4 sen to RM13.90, and $PBBANK (1295.BMS)$ increasing by 25 sen to RM4.54. However, $IHH (5225.BMS)$ dipped by 3 sen to RM6.27. Among the most active stocks, $TOPGLOV (7113.BMS)$ rose 4 sen to 99 sen, $MYEG (0138.BMS)$ added 1.5 sen to 93 sen, while $CEB (5311.BMS)$ remained stable at 42 sen.
Index and Sector Movements
Investor confidence was bolstered by Malaysia’s robust second-quarter GDP growth of 5.9%, surpassing expectations, along with July 2024 trade figures, which showed an 18.9% year-on-year surge to RM255.88 billion, the highest trade value since October 2022. These positive indicators highlighted the resilience of the domestic economy, further supported by improving foreign investor sentiment. Foreign funds returned to the market, recording net purchases of RM299.6 million in Malaysian equities, a reversal from the previous week’s net disposals.
Heavyweight and Active Stocks
Key heavyweights led the rally, with $MAYBANK (1155.BMS)$ up 34 sen to RM10.60, $CIMB (1023.BMS)$ rising 31 sen to RM7.97, $TENAGA (5347.BMS)$ gaining 4 sen to RM13.90, and $PBBANK (1295.BMS)$ increasing by 25 sen to RM4.54. However, $IHH (5225.BMS)$ dipped by 3 sen to RM6.27. Among the most active stocks, $TOPGLOV (7113.BMS)$ rose 4 sen to 99 sen, $MYEG (0138.BMS)$ added 1.5 sen to 93 sen, while $CEB (5311.BMS)$ remained stable at 42 sen.
Index and Sector Movements
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$ climbed 144.70 points to 12,479.83.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$ gained 152.28 points to 12,128.37.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$ advanced by 12.43 points to 12,414.47.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$ rose by 113.56 points to 17,957.21.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$ edged up by 2.17 points to 5,401.15.
Sector-wise, the $Bursa Finance Services (0010I.BMS)$ surged 687.82 points to 19,107.54, showcasing strength in banking stocks. $Bursa Industrial Products & Services (0002I.BMS)$ saw a modest increase of 0.12 points to 183.91, while the $Bursa Energy (0061I.BMS)$ and $Bursa Plantation (0025I.BMS)$ saw declines of 2.65 points to 949.45 and 29.42 points to 7,154.58, respectively, suggesting some profit-taking in these sectors.
Trading Volume and Activity
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$ gained 152.28 points to 12,128.37.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$ advanced by 12.43 points to 12,414.47.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$ rose by 113.56 points to 17,957.21.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$ edged up by 2.17 points to 5,401.15.
Sector-wise, the $Bursa Finance Services (0010I.BMS)$ surged 687.82 points to 19,107.54, showcasing strength in banking stocks. $Bursa Industrial Products & Services (0002I.BMS)$ saw a modest increase of 0.12 points to 183.91, while the $Bursa Energy (0061I.BMS)$ and $Bursa Plantation (0025I.BMS)$ saw declines of 2.65 points to 949.45 and 29.42 points to 7,154.58, respectively, suggesting some profit-taking in these sectors.
Trading Volume and Activity
Total trading volume rose significantly, with 3.89 billion units valued at RM4.30 billion changing hands, up from 3.22 billion units worth RM2.75 billion the previous Friday. The Main Market saw an increase in volume to 2.32 billion units worth RM4.01 billion, while warrants turnover rose to 1.08 billion units valued at RM124.32 million. The ACE Market also recorded higher activity, with 492.48 million shares traded worth RM159.98 million.
Outlook
Bursa Malaysia’s strong performance reflects solid economic fundamentals, with sustained momentum expected as foreign investment increases and key sectors continue to benefit from favorable conditions. The financial sector is particularly well-positioned for continued growth, driven by the expanding economy and improved investor sentiment.
Outlook
Bursa Malaysia’s strong performance reflects solid economic fundamentals, with sustained momentum expected as foreign investment increases and key sectors continue to benefit from favorable conditions. The financial sector is particularly well-positioned for continued growth, driven by the expanding economy and improved investor sentiment.
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