The FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.63 points to end the week at 1,506.19 from yesterday’s close at 1,505.56 as gains were limited by slight profit taking. — photo by Bernama
KUALA LUMPUR, Aug 12 – Bursa Malaysia closed higher for the second day in a row today, with the benchmark ending above the psychological level of 1,500, on the back of continued buying support from some heavyweights , especially banking and plantation counters.
The FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.63 points to end the week at 1,506.19 from yesterday’s close at 1,505.56 as gains were limited by slight profit taking.
The benchmark, which opened 0.49 points lower at 1,505.07 this morning, traded between 1,504.21 and 1,511.80 throughout the trading session.
Market breadth was positive with winners leading losers 440 to 367, while 442 counters were unchanged, 1,034 untraded and another 24 suspended.
Total sales decreased to 2.08 billion units worth RM1.63 billion from 2.55 billion units worth RM1.97 billion yesterday.
Sime Darby Plantation was the biggest gainer among the 30 pegged counters, up 1.98% or nine sen to RM4.64, while CIMB was the biggest contributor to gains in the composite index after rising six sen at RM5.43.
Inter-Pacific Asset Management Sdn Bhd executive director and fund manager Datuk Nazri Khan Adam Khan said the market was dominated by foreign buying, mainly in bank stocks, as inflationary pressure in the United States United was fading.
“Bursa Malaysia is making a comeback with all sector indices showing a positive trend. Bottom coatings are also making a comeback and the scale of the market is very positive.
“We have seen a strong increase in foreign purchases…and the market has also been supported by local retailers and institutions,” he told Bernama.
Nazri Khan also said strong economic growth of 8.9% in the second quarter of 2022 (Q2 2022) partly lifted investors’ risk appetite today.
“It’s the fastest pace for a year, with very strong domestic demand. The message to investors is that we will be able to sustain the recovery. »
Meanwhile, Rakuten Trade Sdn Bhd Vice President of Equity Research Thong Pak Leng said FBM KLCI failed to break through 1,510 resistance despite Q2 2022 GDP growth. stronger than expected due to some profit taking during the late trading session.
“We estimate that the benchmark will eventually consolidate in the 1500-1515 range for the next week,” he said, adding that immediate resistance lies at 1510 followed by 1530, while support is at 1,480.
Among the heavyweights, Maybank gained three sen to RM8.97, Petronas Chemicals was up two sen to RM8.80, IHH Healthcare added one sen to RM6.49, Tenaga was up five sen to 8, 63 RM, Hong Leong Bank was up 10 sen at 20 RM 0.88, while Public Bank was flat at 4.65 RM.
Among assets, Top Glove fell seven sen to 85.5 sen, Hartalega fell 28 sen to RM2.00, Avillion added two sen to 12 sen, while Metronic and Dagang NeXchange were flat at five sen and 89 sen respectively.
On the index chart, the FBMT 100 index lost 3.62 points to 10,427.61, the FBM Emas Shariah index reduced 19.78 points to 10,790.33, the FBM 70 lost 36, 56 points down at 12,761.39, the FBM ACE erased 12.36 points at 4,936.74, while the FBM Emas index added 0.14 points at 10,683.18.
Sector-wise, the financial services index rose 51.59 points to 16,827.61, the plantations index rose 40.56 points to 7,196.81, the industrial goods and services index rose 0.02 points to 184.04 and the energy index edged up 4.2 points to 663.12. .
Main market volume decreased slightly to 1.43 billion shares worth RM1.43 billion from 1.64 billion shares worth RM1.63 billion yesterday.
Warrant turnover decreased to 246.16 million units worth RM37.6 million from 308.49 million units worth RM56.64 million yesterday .
ACE market volume decreased to 411.41 million shares worth RM161.72 million from 604.56 million shares worth RM282.21 million previously.
The consumer products and services counters accounted for 223.06 million shares traded in the main market, industrial products and services (387.83 million), construction (31.62 million), technology (185.69 million), SPAC (nil), financial services (57.96 million), real estate (98.68 million), plantation (27.73 million), REITs (3.63 million), closed/funds (14,000), energy (102.7 million), health (225.52 million), telecommunications and media (23.48 million), transport and logistics (35.16 million), and public services (22.93 million). — Bernama