Stock exchange Bursa Malaysia begins slightly up, later decreases further
Bursa Malaysia opened marginally higher this morning, but later retreated, reflecting a mixed performance across the market. The FTSE Bursa Malaysia KLCI (FBM KLCI) was at 1,597.68, down 0.07%, as of 9:10am.
The FBM 70 Index, which comprises the 70 most actively traded stocks on Bursa Malaysia, was a notable exception, climbing 63.64 points. Despite a sell-down, market analyst Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects bargain hunters to return and the index to trend within the 1,600-1,610 range.
Some of the top gainers on the FBM 70 Index include UWC, which jumped 14 sen to RM3.47, MPI, which advanced 34 sen to RM28.88, and United Malacca, which bagged 10 sen to RM5.50.
However, Petronas Gas slid eight sen to RM18.20, making it a top loser. Petronas Dagangan also reduced 60 sen to RM22.34, another notable loss.
Elsewhere, the Financial Services Index lost 10.29 points, with Public Bank and IHH gaining one sen each, but CIMB eased two sen to RM7.30. Maybank fell three sen to RM9.85.
The Energy Index gained 1.62 points, with Tenaga bagging two sen to RM13.30. The Plantation Index advanced 12.36 points, and Nestle climbed RM1 to RM96.00.
The FBM Emas Index added 6.11 points, the FBMT 100 Index went up 4.01 points, and the FBM Emas Shariah Index increased 8.45 points. The Energy Index and the Plantation Index also saw gains.
The Industrial Products and Services Index edged up 0.32 of-a-point. The most active companies on Bursa Malaysia included Top Glove Corporation, Public Bank Berhad, and Petronas Gas. Top Glove's shares rose by approximately 3%, Public Bank's shares declined by about 1.5%, and Petronas Gas saw a modest increase of around 2%.
In terms of market breadth, it was positive, with 197 gainers leading 111 losers. A total of 257 counters were unchanged, 2,083 were untraded, and 13 were suspended. The turnover stood at 204.51 million units worth RM91.01 million.
Go Hub 5.5 sen easier at 81.5 sen, while 3Ren added 1.5 sen to 41 sen, and HHRG was flat at 12 sen. Kim Hin slipped six sen to 70.5 sen, making it a top loser.
Fraser & Neave rose 16 sen to RM26.96, NexG increased one sen to 49.5 sen, and Sunway Construction five sen weaker at RM6.30.
The FBM ACE Index was 7.29 points higher, and the FBMT 100 Index went up 4.01 points. Overall, the market showed a mixed performance, with the FBM KLCI and the Financial Services Index experiencing losses, while the FBM 70 Index, FBM Emas Index, FBMT 100 Index, FBM Emas Shariah Index, Energy Index, Plantation Index, and Industrial Products and Services Index all showed gains.
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