BURSA Malaysia closed higher today on continuous bargain hunting following the recent heavy sell-off, amid improved regional sentiment in tandem with the upbeat performance on Wall Street on Friday.
Additionally, local sentiment was boosted after Malaysia’s total trade data for 2024, released earlier today, exceeded expectations, showing a 14.6% increase.
Exports and imports grew by 14.6% and 11.9%, respectively, leading to a significant 62.3% rise in the trade balance for the year.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.62 points, or 0.36%, to 1,572.34 from Friday’s close of 1,566.72.
The FBM KLCI, which opened 4.42 points higher at 1,571.14, moved between 1,563.48 and 1,575.11 during the day.
Market breadth was positive, with gainers trouncing losers 628 to 397, while 473 counters were unchanged, 879 untraded and 19 others suspended.
Turnover declined to 2.95 billion units valued at RM2.45 bil from last Friday’s 3.10 billion units valued at RM3.06 bil. – Jan 20, 2025
