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FBM KLCI Edges Up Amid Bargain Hunting
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Bursa Malaysia saw a slight improvement by midday, with $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ recording a marginal gain of 0.02 points to reach 1,648.93, after an earlier intra-morning high of 1,652.02. Despite the thin trading environment due to public holidays in China, Hong Kong, and South Korea, the local bourse was supported by renewed buying interest in selected heavyweights, contributing to the mild upward movement.
Across the broader market, gainers outnumbered decliners with 536 stocks advancing versus 357 losing, while 465 counters remained unchanged. Total market turnover amounted to 1.55 billion shares valued at RM1.06 billion, reflecting cautious but consistent trading activity.
Across the broader market, gainers outnumbered decliners with 536 stocks advancing versus 357 losing, while 465 counters remained unchanged. Total market turnover amounted to 1.55 billion shares valued at RM1.06 billion, reflecting cautious but consistent trading activity.
Key Sector and Stock Performances
Heavyweights such as $MAYBANK (1155.MY)$ and $TENAGA (5347.MY)$ each rose by 2 sen, closing at RM10.50 and RM14.46, respectively, offering support to the market’s overall performance. $PBBANK (1295.MY)$ and $CIMB (1023.MY)$ remained flat at RM4.56 and RM8.05, while $IHH (5225.MY)$ declined slightly by 1 sen to RM7.15. Among the top gainers was $MPI (3867.MY)$, which surged 58 sen to RM27.18, while $PETDAG (5681.MY)$ gained 34 sen to close at RM18.20. Other notable gainers included $PANAMY (3719.MY)$, which added 30 sen to RM18.50, and $KLK (2445.MY)$, up 22 sen to RM20.76.
Conversely, $NESTLE (4707.MY)$ declined by RM1 to close at RM103, while $HLBANK (5819.MY)$ fell by 26 sen to RM21.60. $GAMUDA (5398.MY)$ and $UTDPLT (2089.MY)$ both slipped by 18 sen, ending the morning session at RM7.90. Active counters included $DNEX (4456.MY)$, which rose by 4.5 sen to 38 sen on 102.9 million shares traded, and $99SMART (5326.MY)$, which gained 5 sen to close at RM2.28 with 34.9 million shares exchanged.
Heavyweights such as $MAYBANK (1155.MY)$ and $TENAGA (5347.MY)$ each rose by 2 sen, closing at RM10.50 and RM14.46, respectively, offering support to the market’s overall performance. $PBBANK (1295.MY)$ and $CIMB (1023.MY)$ remained flat at RM4.56 and RM8.05, while $IHH (5225.MY)$ declined slightly by 1 sen to RM7.15. Among the top gainers was $MPI (3867.MY)$, which surged 58 sen to RM27.18, while $PETDAG (5681.MY)$ gained 34 sen to close at RM18.20. Other notable gainers included $PANAMY (3719.MY)$, which added 30 sen to RM18.50, and $KLK (2445.MY)$, up 22 sen to RM20.76.
Conversely, $NESTLE (4707.MY)$ declined by RM1 to close at RM103, while $HLBANK (5819.MY)$ fell by 26 sen to RM21.60. $GAMUDA (5398.MY)$ and $UTDPLT (2089.MY)$ both slipped by 18 sen, ending the morning session at RM7.90. Active counters included $DNEX (4456.MY)$, which rose by 4.5 sen to 38 sen on 102.9 million shares traded, and $99SMART (5326.MY)$, which gained 5 sen to close at RM2.28 with 34.9 million shares exchanged.
Sectoral Index Movements
$FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ gained 22.67 points to 12,344.58, while the $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$ improved by 13.56 points to 12,035.27. $FTSE Bursa Malaysia MidS Cap Index (.FBMMSCAP.MY)$ stocks saw positive movements, with $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$ rising by 69.54 points to 17,468.07, and $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ increasing by 15.62 points to 5,192.90. However, $Bursa Plantation (0025I.MY)$ dropped 19.08 points to 7,160.22, signaling continued weakness in the plantation sector. Meanwhile, $Bursa Plantation (0025I.MY)$ posted a minor gain of 2.09 points, closing at 19,291.27, while $Bursa Energy (0061I.MY)$ declined by 8.06 points to 838.29, reflecting lower sentiment in the energy sector.
$FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$ gained 22.67 points to 12,344.58, while the $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$ improved by 13.56 points to 12,035.27. $FTSE Bursa Malaysia MidS Cap Index (.FBMMSCAP.MY)$ stocks saw positive movements, with $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$ rising by 69.54 points to 17,468.07, and $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$ increasing by 15.62 points to 5,192.90. However, $Bursa Plantation (0025I.MY)$ dropped 19.08 points to 7,160.22, signaling continued weakness in the plantation sector. Meanwhile, $Bursa Plantation (0025I.MY)$ posted a minor gain of 2.09 points, closing at 19,291.27, while $Bursa Energy (0061I.MY)$ declined by 8.06 points to 838.29, reflecting lower sentiment in the energy sector.
Global Market Influence and Outlook
Regionally, market activity was muted due to holidays across China, Hong Kong, and South Korea. Nevertheless, $Nikkei 225 (.N225.JP)$ in Japan bucked the trend, adding 1.96% to 38,662.92, signaling strong buying momentum in the Japanese market. Global sentiment has been buoyed by optimism surrounding the U.S. Federal Reserve’s potential rate cuts, while the easing of property restrictions in China’s key cities has further fueled positive sentiment in the broader Asia-Pacific markets.
Looking ahead, Bursa Malaysia is expected to maintain its upward momentum, with market participants closely monitoring external factors such as the U.S. Federal Reserve’s interest rate trajectory and developments in China’s economic recovery efforts. Domestically, sectors such as $Bursa Construction (0003I.MY)$, $Bursa Property (0020I.MY)$, building materials, and $Bursa Utilities (0065I.MY)$ are anticipated to gain traction as investors position themselves ahead of the 2025 Budget and potential announcements related to the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.
In conclusion, despite cautious trading due to regional holidays, Bursa Malaysia showed resilience at midday, buoyed by selective buying in heavyweight counters. The market is expected to continue trading within a tight range, with external factors and upcoming domestic developments guiding sentiment.
Regionally, market activity was muted due to holidays across China, Hong Kong, and South Korea. Nevertheless, $Nikkei 225 (.N225.JP)$ in Japan bucked the trend, adding 1.96% to 38,662.92, signaling strong buying momentum in the Japanese market. Global sentiment has been buoyed by optimism surrounding the U.S. Federal Reserve’s potential rate cuts, while the easing of property restrictions in China’s key cities has further fueled positive sentiment in the broader Asia-Pacific markets.
Looking ahead, Bursa Malaysia is expected to maintain its upward momentum, with market participants closely monitoring external factors such as the U.S. Federal Reserve’s interest rate trajectory and developments in China’s economic recovery efforts. Domestically, sectors such as $Bursa Construction (0003I.MY)$, $Bursa Property (0020I.MY)$, building materials, and $Bursa Utilities (0065I.MY)$ are anticipated to gain traction as investors position themselves ahead of the 2025 Budget and potential announcements related to the Kuala Lumpur-Singapore High-Speed Rail (HSR) project.
In conclusion, despite cautious trading due to regional holidays, Bursa Malaysia showed resilience at midday, buoyed by selective buying in heavyweight counters. The market is expected to continue trading within a tight range, with external factors and upcoming domestic developments guiding sentiment.
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