By Harizah Hanim Mohamed
KUALA LUMPUR, June 9 (Bernama) -- Bursa Malaysia closed the trading day in positive territory, supported by investor accumulation of selective heavyweights, as market participants awaited the outcome of high-level US-China discussions.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) perked up 2.62 points, or 0.17 per cent, to 1,519.41 from last Friday’s close of 1,516.79.
The benchmark index opened at 1,518.06, up 1.27 points, and subsequently fluctuated in a narrow range between 1,518.03 and 1,521.64 throughout the day.
Across the broader market, gainers outnumbered losers 535 to 400, while 484 counters were unchanged, 941 untraded and 20 suspended.
Turnover expanded to 2.61 billion units worth RM1.84 billion compared with last Friday’s 1.92 billion units worth RM1.66 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that, domestically, investors have been accumulating selected heavyweights, especially financial services, construction, and technology-related stocks, at current price levels which is considered relatively cheap.
“Technical indicators suggest the FBM KLCI is consolidating within a narrow range until fresh catalysts emerge.
“We expect the index to trade between 1,500 and 1,530 for the week, representing its support and resistance levels,” he added.
Commenting on the regional markets, Thong said the FBM KLCI tracked the strong performance of regional bourses, which closed mostly higher on optimism surrounding the upcoming trade talks between Washington and Beijing.
“Technology counters were standout performers, buoyed by robust rallies in Chinese Internet firms and South Korean semiconductor stocks,” he added.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said progress in the complex trade negotiations, as announced by US President Donald Trump, has further lifted market sentiment.
“Market participants will be closely monitoring the outcome of these high-level discussions, as any breakthrough could set the tone for risk sentiment and global trade flows in the months ahead,” he said.
China’s Foreign Ministry confirmed that Vice Premier He Lifeng will visit the United Kingdom from June 8-13, with China-US economic and trade consultations scheduled to take place during his visit.
Back home, Mohd Sedek opined that today’s gains were led by stocks in the agriculture, oil and gas, and banking sectors, while consumer-related counters lagged.
The broader market continues to find support from resilient domestic fundamentals and improving external sentiment, although performance is expected to remain selectively driven by sectoral dynamics and evolving macroeconomic signals,” he said.
Among the heavyweights, Petronas Chemicals gained 10 sen to RM3.35, QL Resources jumped 16 sen to RM4.53, CIMB rose five sen to RM6.89, Tenaga Nasional improved eight sen to RM14.28, while Maybank erased two sen to RM9.68.
The top gainers in the broader market were led by Dutch Lady, which put on 74 sen to RM29.70, Malaysian Pacific Industries rose 70 sen to RM20.90, Ayer Holdings climbed 36 sen to RM7.60, while Pentamaster soared 20 sen to RM2.80.
Among the most active stocks, MYEG was flat at 94.5 sen, MPire Global was two sen higher at 11 sen, ACE Market debutant Hartanah Kenyalang lost 1.5 sen to 14.5 sen, and Tanco shed four sen to 99 sen.
On the index board, the FBM Emas Index gained 37.85 points to 11,393.19, the FBMT 100 Index climbed 34.77 points to 11,158.47, the FBM Emas Shariah Index advanced 34.82 points to 11,364.04, the FBM 70 Index surged 112.74 points to 16,409.31, while the FBM ACE Index erased 7.19 points to 4,512.13.
Sector-wise, the Financial Services Index increased 23.88 points to 17,732.20, the Industrial Products and Services Index was 1.54 points better at 152.34, the Energy Index rose 2.41 points to 720.86, and the Plantation Index shed 4.02 points to 7,248.83.
The Main Market volume advanced to 1.23 billion units valued at RM1.61 billion from 964.07 million units valued at RM1.46 billion registered last Friday.
Warrants turnover surged to 1.09 billion units worth RM134.4 million from 706.23 million units worth RM98.53 million previously.
The ACE Market volume increased to 280.34 million shares valued at RM94.6 million from 249.20 million shares valued at RM105.00 million recorded on Friday last week.
Consumer products and services counters accounted for 262.34 million shares traded on the Main Market, industrial products and services (218.36 million), construction (120.36 million), technology (184.74 million), SPAC (nil), financial services (55.95 million), property (151.95 million), plantation (12.57 million), REITs (22.65 million), closed-end funds (6,000), energy (73.91 million), healthcare (36.19 million), telecommunications and media (42.27 million), transportation and logistics (19.32 million), utilities (29.55 million), and business trusts (130,400).
-- BERNAMA
