Bursa Malaysia Edges Higher On Heavyweight Buying
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Sept 23 (Bernama) -- Bursa Malaysia turned slightly higher at midday, lifted by buying in selected heavyweights, particularly in the consumer products and services, as well as utilities sectors.
Sime Darby rose 7.0 sen to RM2.17, QL Resources added 9.0 sen to RM4.39, and Petronas Gas gained 16 sen to RM18.46, collectively contributing 1.95 points to the composite index.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.59 of-a-point to 1,603.93 from yesterday’s close of 1,603.34.
The benchmark opened at 1,604.90 and traded between 1,602.03 and 1,608.49 during the morning session.
Market breadth was positive, with gainers outpacing losers 465 to 413. Meanwhile, 483 counters were unchanged, 1,283 untraded, and 37 suspended.
Turnover stood at 2.08 billion units worth RM1.15 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that Wall Street closed firmer, with the S&P 500 hitting another record high led by Nvidia Corp’s reported partnership with OpenAI, despite concerns over a potential US government shutdown linked to Democrats’ healthcare demands.
“Sentiment has also turned cautious as the much-anticipated phone call between US President Donald Trump and Chinese President Xi Jinping offered little incentive or clarity for traders,” he said.
Back home, he expects the index to hover between 1,600 and 1,610 in the absence of strong catalysts.
Hong Leong Investment Bank Bhd said renewed foreign buying (September 2025 month-to-date: +RM511 million versus August 2025: -RM3.43 billion), optimism over the RON95 subsidy rationalisation plan and expectations of a pro-growth Budget 2026 on Oct 10 underpin its constructive outlook on the FBM KLCI.
“We anticipate a potential retest of the 1,612-1,625-1,640 resistance zone in the fourth quarter of 2025, following a brief consolidation.
“Any pullback, in our view, presents a tactical accumulation opportunity as investors position for the remainder of 2025,” it said in a note.
Among heavyweights, Public Bank rose 10 sen to RM4.28, Axiata and Press Metal Aluminium gained 2.0 sen each to RM2.65 and RM5.69, SD Guthrie slipped 6.0 sen to RM5.24, while Mr D.I.Y. eased 3.0 sen to RM1.57.
In active trade, ACE Market debutant JS Solar added 9.0 sen to 40 sen, XOX Technology climbed 3.5 sen to 7.0 sen, NexG and SFP Tech improved 1.5 sen each to 51.5 sen and 17.5 sen, while Pharmaniaga edged up 1.0 sen to 27 sen.
Top gainers included KESM Industries, up 31 sen to RM3.69, PJBumi, which gained 21 sen to RM2.43, Apollo Food, which advanced 20 sen to RM6.60, Malaysian Pacific Industries, which firmed 16 sen to RM29.44, and Lianson Fleet, which rose 11 sen to RM1.94.
Among top losers, United Plantations fell 50 sen to RM23.04, Nestle shed 24 sen to RM96.26, BLD Plantation slipped 10 sen to 28.5 sen, Dutch Lady Milk Industries eased 10 sen to RM27.08, and Petronas Dagangan declined 8.0 sen to RM22.22.
On the broader market, the FBM Emas Index added 16.07 points to 11,942.57, the FBMT 100 Index rose 11.93 points to 11,688.54, the FBM ACE Index gained 6.63 points to 4,980.53, the FBM 70 Index jumped 50.40 points to 16,801.51, and the FBM Emas Shariah Index increased 20.13 points to 11,992.08.
By sector, the Financial Services Index gained 6.37 points to 18,096.57, the Energy Index rose 6.30 points to 765.67, the Industrial Products and Services Index edged up 0.39 of-a-point to 169.57, while the Plantation Index dropped 53.04 points to 7,714.84.
-- BERNAMA