Bursa ends higher on improved sentiment

BURSA Malaysia continued its upbeat momentum to end higher for the second straight day yesterday, on improving sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

At 5pm, the FBM KLCI rose 4.34 points, or 0.28%, to 1,544.76 from Wednesday’s close of 1,540.42.

The benchmark index, which opened 0.58 of-a-point easier at 1,539.84, moved between 1,538.68 and 1,548.46 throughout the trading session.

On the broader market, gainers trounced decliners 570 to 469, while 493 counters were unchanged, 832 untraded, and 21 others suspended.

Turnover widened to 3.84 billion units worth RM2.62 billion from 3.45 billion units worth RM2.67 billion on Wednesday.

Mohd Sedek Jantan, head of wealth research and advisory and designated portfolio manager at UOB Kay Hian Wealth Advisors, said the local bourse’s performance reflected a promising step forward from the recent downward trend, instilling optimism among investors.

Meanwhile, Apex Securities Bhd head of research Kenneth Leong said the improvement in the local market was evident as investors cheered the easing of geopolitical tensions in the Middle East.

Among the heavyweights, Maybank added seven sen to RM9.67, CIMB gained six sen to RM6.59, Tenaga Nasional put on eight sen to RM11.60, Petronas Chemicals rose one sen to RM6.84, and Public Bank slipped one sen to RM4.14.

As for the actives, Ingenieur Gudang, Borneo Oil, Fitters Diversified and Velesto Energy inched down half-a-sen to 14 sen, half-a-sen, 4.5 sen, and 27 sen, respectively. – Bernama