Market ends higher, CI up 4.07 points

BURSA Malaysia closed higher yesterday as the market expects the US Federal Reserve (Fed) to keep interest rates unchanged at the end of its two-day meeting today.

At 5pm, the FBM KLCI snapped a five-day losing streak to close 4.07 points higher at 1,655.78 points against Monday’s close of 1,651.71.

After opening 5.20 points better at 1,656.91 this morning, the local index moved between 1,645.18 and 1,656.91 throughout the day.

Losers outpaced gainers by 418 to 345 while 401 counters were unchanged, 526 untraded and 18 others suspended.

A dealer said cautious sentiment clouded the market over the Fed’s decision on interest rates, however, the consensus was that it would leave interest rates unchanged.

On the scoreboard, the FBM Emas Index added 28.01 points to 11,679.61, the FBMT100 Index gained 28.32 points to 11,382.78 and the FBM Emas Shariah Index was 37.22 points better at 12,314.78.

The FBM 70 improved 35.02 points to 13,621.07 and the FBM Ace inched up 33.65 points to 5,242.3.

Of the heavyweights, TNB eased two sen to RM14.40, Maybank fell three sen to RM7.80 and Public Bank added eight sen to RM19.56.

Among actives, Lion Diversified added 3.5 sen to six sen, AirAsia fell 13 sen to RM2.70 and Iris added one sen to 17.5 sen.

The ACE Market volume was higher at 166.29 million shares valued at RM29.52 million from 162 million shares valued at RM27.59 million yesterday.

Warrants swelled to 347.12 million units worth RM65.4 million from 177.35 million units worth RM39.99 million previously.

Consumer products accounted for 54.52 million shares traded on the Main Market, industrial products (256.67 million), construction (53.12 million), trade and services (273.42 million), technology (60.36 million), infrastructure (8.59 million), SPAC (31.81 million), finance (61.07 million), hotels (448,400), properties (54.95 million), plantations (17.21 million), mining (7,000), REITs (8.06 million) and closed/fund (12,100). – Bernama