Bursa Malaysia Outperforms Regional Peers, Ends Week At Intraday High

KUALA LUMPUR, Aug 8 (Bernama) -- Bursa Malaysia ended the week higher, closing at an intraday high, outperforming regional peers as the formal announcement of the 13th Malaysia Plan (13MP) and renewed developments in United States trade tariff policy served as dual tailwinds for market sentiment.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.87 points or 0.51 per cent to close at 1,556.98 from Thursday’s close of 1,549.11.

The benchmark index had opened 0.11 of a point lower at 1,549.00 and hit its lowest level of 1,546.41 during the morning session but gained momentum thereafter.

However, the broader market was negative, with decliners beating gainers 541 to 448, while 494 counters were unchanged, 1,030 untraded and nine suspended.

Turnover increased to 2.43 billion units worth RM2.22 billion from 2.21 billion units worth RM2.35 billion on Thursday.

UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said the FBM KLCI concluded the week on a firmer footing, while regional benchmarks remained subdued amid lingering macroeconomic uncertainty.

“The local index sustained ahead of the midday intermission, but the bullish momentum consolidated post-lunch, underpinned by rising probability-weighted expectations of US monetary policy easing. 

"This trajectory was consistent as the confluence of domestic policy catalysts and evolving global trade dynamics support market sentiment,” he told Bernama.

Among the heavyweights, Maybank lost two sen to RM9.61, while Public Bank and Tenaga Nasional gained four sen each to RM4.33 and RM13.80, CIMB rose eight sen to RM6.86, and IHH was one sen higher at RM6.96.

Of the most active counters, Ekovest fell one sen to 39.5 sen, Tanco eased half-a-sen to 76.5 sen,  Top Glove dipped two sen to 59.5 sen, and TWL was flat at 2.5 sen, while Pharmaniaga inched up half-a-sen to 18 sen.

Across the broader market, the FBM Emas Index increased 35.25 points to 11,601.79, the FBMT 100 Index rose 39.25 points to 11,379.91, and the FBM Emas Shariah Index advanced 28.02 points to 11,634.18.

The FBM ACE Index shaved 24 points to 4,606.88 while the FBM 70 Index dipped 23.44 points to 16,505.53.

By sector, the Financial Services Index soared 83.36 points to 17,580.82, the Energy Index inched up 2.04 points to 736.72, and the Plantation Index climbed 77.38 points to 7,426.12, while the Industrial Products and Services Index eased 0.26 of-a-point to 157.76.

The Main Market volume rose to 1.46 billion units valued at RM2.04 billion from 1.33 billion units valued at RM2.15 billion on Thursday.

Warrants turnover climbed to 715.60 million units worth RM89.04 million from 620.69 million units worth RM97.15  million previously.

The ACE Market volume dropped to 250.96 million units worth RM92.31 million from 258.67 million units worth RM99.50 million yesterday.

Consumer products and services counters accounted for 272.11 million shares traded on the Main Market; industrial products and services (205.39 million), construction (135.62 million), technology (183 million), SPAC (nil), financial services (87.43 million), property (207.12 million), plantation (15.62 million), REITs (20.36 million), closed-end fund (2,800), energy (72.28 million), healthcare (139.91 million), telecommunications and media (32.58 million), transportation and logistics (37.11 million), utilities (51.70 million), and business trusts (2,300).

-- BERNAMA