Bursa inches up amid cautious mood

BURSA Malaysia ended the day on a cautious note, pending further market direction amid global economic uncertainty.

The benchmark FTSE Bursa Malaysia (FBM KLCI) ended 7.88 points, or 0.49 per cent, higher at 1,602.47, after hitting an intra-day high of 1,605.53. The market barometer had opened 1.67 points higher at 1,597.26.

Market breadth skewed to the negative as losers outpaced gainers 401 to 382, with 430 counters unchanged, 746 untraded and 14 others suspended.

Turnover was higher at 2.04 billion units worth RM1.75 billion compared with 1.99 billion units worth RM1.62 billion on Wednesday.

VM Markets Pte Ltd managing

partner Stephen Innes said the market was in a capricious mood, which had a decidedly risk-off note.

“Investors are awaiting what United States Federal Reserve chairman Jerome Powell would say at the Jackson’s Hole symposium, which would give an indication on the rate cut decisions,” he added.

AMMB added 24 sen to RM4.14, Dialog and Digi gained two sen to RM3.49 and RM5.00, respectively, while IHH and Sime Darby were up one sen at RM5.67 and RM2.10, respectively.

As for actives, Vsolar dropped 1.5 sen to 13.5 sen, Jaks shed half-a-sen to 81.5 sen, Berjaya Land firmed 1.5 sen to 24 sen, MNC Wireless added half-a-sen at 8.0 sen while NETX was flat at 1.5 sen.

The FBM ACE rose 41.47 points to 4,647.64, the FBM 70 slipped 19.79 points to 14,135.95, the FBM Emas Index recovered 36.40 points to 11,338.79, the FBM Emas Shariah Index appreciated 36.26 points to 11,869.95 and the FBMT 100 Index was 38.41 points higher at 11,174.49.

Sector-wise, the Financial Services Index strengthened 75.95 points to 15,588.11, the Plantation Index rose 21.88 points to 6,772.65, and the Industrial Products and Services Index gained 0.75-point at 150.39.

Main Market volume increased to 1.31 billion units worth RM1.60 billion, compared with 1.27 billion units worth RM1.47 billion on Wednesday.

Warrants turnover decreased to