The Thinker wrote a post · Nov 22 00:30

Bursa Malaysia Stays Positive at Midday Backed by Heavyweight Rebounds

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Tenaga Nasional and Petronas Chemicals lift the index with midday gains

At midday, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rose by 2.91 points to 1,591.59, supported by buying interest in heavyweights. $TENAGA (5347.MY)$ gained 22 sen to RM14.02, $PCHEM (5183.MY)$ edged up 11 sen to RM4.94, and $PMETAL (8869.MY)$ climbed 6 sen to RM4.70, collectively adding 4.51 points to the index.

Broader Market Sentiment Remains Mixed

Despite gains in the benchmark index, the broader market sentiment was negative. Decliners outnumbered gainers 506 to 354, while 464 counters remained unchanged. Total trading turnover reached 1.47 billion shares valued at RM1.03 billion, reflecting cautious participation amid mixed market dynamics.

Positive moves in regional indices lend midday support to Bursa Malaysia

Regional Markets Provide Support Amid Uncertainty

Regional indices showed resilience, with Japan’s $Nikkei 225 (.N225.JP)$ climbing 0.93% and Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ edging up 0.06%. However, China’s $SSE Composite Index (000001.SH)$ and Hong Kong’s $Hang Seng Index (800000.HK)$ experienced declines of 1% and 1.31%, respectively. Renewed optimism in $NVIDIA (NVDA.US)$ outlook provided support to chip stocks regionally.

Sectoral Performance Highlights

$Bursa Industrial Products & Services (0002I.MY)$ rose 1.49 points to 173.50, driven by gains in industrial counters. $Bursa Finance Services (0010I.MY)$ ticked up 10.32 points to 19,041.45. However, $Bursa Plantation (0025I.MY)$ declined 26.55 points to 7,539.83, and $Bursa Energy (0061I.MY)$ fell by 4.07 points to 822.03, reflecting sectoral weaknesses.

Geopolitical uncertainties and U.S. dollar strength drive cautious trading sentiment

Investor Outlook and Key Drivers

Market sentiment remains cautious amid geopolitical uncertainties, including the Ukraine-Russia conflict, which has heightened demand for safe-haven assets like gold. The strengthening U.S. dollar and improving prospects in export-oriented sectors, including $Bursa Technology (0005I.MY)$ and gloves, may offer future support for the market.

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The Thinker

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