Bursa Malaysia Extends Upward Momentum To 14-Month High
By Abdul Hamid A Rahman
KUALA LUMPUR, Dec 15 (Bernama) -- Bursa Malaysia’s key index extended its uptrend today, climbing to a 14-month high, surpassing the previous high recorded on Oct 22, 2024 at 1,642.54, supported by broad-based buying from local institutional investors.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.91 points, or 0.36 per cent, to 1,643.72, compared with Friday’s close of 1,637.81.
The benchmark index opened 2.73 points lower at 1,635.08, before dipping to its intraday low of 1,632.54 a few minutes later, and then rebounded to an intraday high of 1,644.05 just before closing.
On the broader market, decliners beat gainers 641 versus 402. A further 559 counters were unchanged, 1,161 untraded and 11 suspended.
Turnover shaved to 2.50 billion units worth RM2.16 billion from 3.09 billion units worth RM2.46 billion on Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local market continued to demonstrate notable resilience, with the FBM KLCI delivering a strong performance over the past three trading sessions.
“This reflects improving confidence in domestic fundamentals and sustained support from local funds. The index is holding convincingly above the 1,630 level, which he said represents current support and a constructive base for further upside.
“Should this level continue to be defended, the renewed momentum could pave the way for the benchmark to advance towards our year-end target of 1,650,” he told Bernama.
Meanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said the FBM KLCI extended the positive momentum carried over from last week and decisively crossed the 1,643 level, thereby pushing the index into positive territory on a year-to-date basis.
“Importantly, the advance has remained organic rather than abrupt, characterised by measured gains and orderly participation rather than sharp, speculative moves.
“This is a constructive development, as it suggests the market is being supported by incremental re-allocation and strengthening confidence in underlying fundamentals, rather than short-term positioning or headline-driven flows that are prone to reversal,” he said.
Among heavyweights, Maybank added six sen to RM10.36, Public Bank rose two sen to RM4.49, CIMB Group gained three sen to RM7.93, IHH Healthcare climbed nine sen to RM8.70, and Tenaga Nasional advanced eight sen to RM13.10.
On the most active list, Velesto Energy added half-a-sen to 28.5 sen, Zetrix AI eased one sen to 82.5 sen, Tanco Holdings ended unchanged at RM1.18, VS Industry slipped 2.5 sen to 51.5 sen, while Orkim jumped 14.5 sen to RM1.10.
The top gainers included Kuala Lumpur Kepong which rose 30 sen to RM19.80, Far East Holdings added 30 sen to RM4.50, Malayan Cement advanced 26 sen to RM7.05, Hong Leong Industries gained 12 sen to RM15.92, and Telekom Malaysia rose 11 sen to RM7.91.
Among the top losers, Nestle fell RM1.00 to RM112.30, Dutch Lady slipped 26 sen to RM30.12, Malaysian Pacific Industries shed 20 sen to RM31.80, Mi Technovation declined 14 sen to RM2.76 and Farm Fresh eased 11 sen to RM2.72.
On the index board, the FBM Emas Index rose 16.35 points to 12,090.38, the FBM Emas Shariah Index gained 5.29 points to 11,914.49, and the FBMT 100 Index climbed 21.66 points to 11,884.96, while the FBM 70 Index declined 63.25 points to 16,673.42, and the FBM ACE Index slipped 32.90 points to 4,725.29.
Sector-wise, the Financial Services Index advanced 58.46 points to 19,280.16, and the Industrial Products and Services Index edged up 0.71 of-a-point to 169.88, while the Energy Index eased 2.25 points to 765.54 and the Plantation Index fell 11.82 points to 8,139.45.
The Main Market volume shed to 1.25 billion units worth RM1.94 billion from 1.64 billion units worth RM2.19 billion on Friday.
Warrants turnover declined to 953.61 million units worth RM115.93 million against 1.04 billion units worth RM141.19 million previously.
The ACE Market volume slid to 300.47 million units valued at RM101.62 million versus 397.29 million units valued at RM121.52 million yesterday.
Consumer products and services counters accounted for 179.06 million shares traded on the Main Market, industrial products and services (219.28 million), construction (103.46 million), technology (138.98 million), financial services (50.01 million), property (151.42 million), plantation (21.79 million), real estate investment trusts (16.38 million), closed-end fund (2,400 shares), energy (152.63 million), healthcare (95.75 million), telecommunications and media (25.98 million), transportation and logistics (64.15 million), utilities (28.64 million), and business trusts (376,600).
-- BERNAMA