Bursa Malaysia Rises on Positive Earnings and Wall Street Optimism
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Bursa Malaysia rebounded after two consecutive days of losses, driven by positive sentiment surrounding corporate earnings and optimism following Wall Street’s performance overnight. $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rose by 6.34 points or 0.39%, closing at 1,641.66. The benchmark index opened 5.01 points higher at 1,640.33, fluctuating between 1,634.69 and 1,642.14 during the session.
Market Breadth
Despite the gains in the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$, the broader market showed 616 decliners against 446 gainers, with 497 counters unchanged and 938 untraded. Turnover increased to 3.72 billion units valued at RM3.08 billion, up from the previous day’s 3.27 billion units worth RM2.90 billion.
Sector and Stock Performance
• Heavyweight Stocks:
• $MAYBANK (1155.MY)$: Fell 8.0 sen to RM10.44.
• $TENAGA (5347.MY)$: Dropped 4.0 sen to RM13.86.
• $PBBANK (1295.MY)$: Declined 4.0 sen to RM4.59.
• $CIMB (1023.MY)$ and $IHH (5225.MY)$: Both remained flat at RM7.89 and RM6.32, respectively.
Market Breadth
Despite the gains in the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$, the broader market showed 616 decliners against 446 gainers, with 497 counters unchanged and 938 untraded. Turnover increased to 3.72 billion units valued at RM3.08 billion, up from the previous day’s 3.27 billion units worth RM2.90 billion.
Sector and Stock Performance
• Heavyweight Stocks:
• $MAYBANK (1155.MY)$: Fell 8.0 sen to RM10.44.
• $TENAGA (5347.MY)$: Dropped 4.0 sen to RM13.86.
• $PBBANK (1295.MY)$: Declined 4.0 sen to RM4.59.
• $CIMB (1023.MY)$ and $IHH (5225.MY)$: Both remained flat at RM7.89 and RM6.32, respectively.
• Active Counters:
• $ELRIDGE (0318.MY)$: Rose 11.0 sen to 40 sen on its debut in the ACE Market.
• $YTLPOWR (6742.MY)$: Surged 45.0 sen to RM4.20, continuing its strong performance.
• $MYEG (0138.MY)$: Added 2.0 sen to 94 sen.
• $CEB (5311.MY)$: Declined 2.5 sen to 40 sen.
• $VELOCITY (7165.MY)$: Dropped half-a-sen to 5.5 sen.
Index Performance:
• $ELRIDGE (0318.MY)$: Rose 11.0 sen to 40 sen on its debut in the ACE Market.
• $YTLPOWR (6742.MY)$: Surged 45.0 sen to RM4.20, continuing its strong performance.
• $MYEG (0138.MY)$: Added 2.0 sen to 94 sen.
• $CEB (5311.MY)$: Declined 2.5 sen to 40 sen.
• $VELOCITY (7165.MY)$: Dropped half-a-sen to 5.5 sen.
Index Performance:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Climbed 17.45 points to 12,426.24.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Gained 26.56 points to 12,375.43.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Declined 34.11 points to 17,962.12.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Decreased 62.14 points to 5,274.14.
Sectoral Indices:
• $Bursa Plantation (0025I.MY)$: Jumped 89.54 points to 7,199.25.
• $Bursa Industrial Products & Services (0002I.MY)$: Ticked up 1.14 points to 183.38.
• $Bursa Finance Services (0010I.MY)$: Tumbled 70.64 points to 19,107.32.
• $Bursa Energy (0061I.MY)$: Slid 15.07 points to 920.65.
Trading Volume by Sector:
• $Bursa Consumer Products & Services (0001I.MY)$: 260.57 million shares traded.
• $Bursa Industrial Products & Services (0002I.MY)$: 374.99 million shares.
• $Bursa Technology (0005I.MY)$: 220.16 million shares.
• $Bursa Energy (0061I.MY)$: 192.03 million shares.
• $Bursa Finance Services (0010I.MY)$: 98.56 million shares.
• $Bursa Property (0020I.MY)$: 230.68 million shares.
• $Bursa Utilities (0065I.MY)$: 124.02 million shares.
Market Sentiment and Outlook
The market saw a resurgence in buying interest as bargain hunting took place amid a positive corporate earnings season and optimism surrounding a potential U.S. Federal Reserve rate cut. Gains were led by the $Bursa Plantation (0025I.MY)$ and $Bursa Utilities (0065I.MY)$ sectors, which had seen declines earlier in the week. Investors continue to monitor the Johore-Singapore Special Economic Zone and data center sectors, which are expected to be key growth drivers for the second half of 2024.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Gained 26.56 points to 12,375.43.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Declined 34.11 points to 17,962.12.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Decreased 62.14 points to 5,274.14.
Sectoral Indices:
• $Bursa Plantation (0025I.MY)$: Jumped 89.54 points to 7,199.25.
• $Bursa Industrial Products & Services (0002I.MY)$: Ticked up 1.14 points to 183.38.
• $Bursa Finance Services (0010I.MY)$: Tumbled 70.64 points to 19,107.32.
• $Bursa Energy (0061I.MY)$: Slid 15.07 points to 920.65.
Trading Volume by Sector:
• $Bursa Consumer Products & Services (0001I.MY)$: 260.57 million shares traded.
• $Bursa Industrial Products & Services (0002I.MY)$: 374.99 million shares.
• $Bursa Technology (0005I.MY)$: 220.16 million shares.
• $Bursa Energy (0061I.MY)$: 192.03 million shares.
• $Bursa Finance Services (0010I.MY)$: 98.56 million shares.
• $Bursa Property (0020I.MY)$: 230.68 million shares.
• $Bursa Utilities (0065I.MY)$: 124.02 million shares.
Market Sentiment and Outlook
The market saw a resurgence in buying interest as bargain hunting took place amid a positive corporate earnings season and optimism surrounding a potential U.S. Federal Reserve rate cut. Gains were led by the $Bursa Plantation (0025I.MY)$ and $Bursa Utilities (0065I.MY)$ sectors, which had seen declines earlier in the week. Investors continue to monitor the Johore-Singapore Special Economic Zone and data center sectors, which are expected to be key growth drivers for the second half of 2024.
Overall, sentiment was bolstered by expectations of further positive momentum in the market, particularly with potential spillovers from Wall Street’s gains.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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