Bursa Malaysia ends the week on positive note on improved market sentiment

BURSA Malaysia closed the trading session higher as market sentiment continues to improve across the region due to a recovery in Wall Street, with technology counters leading the gainers, a dealer said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.80 points, or 0.12%, to 1,496.53 compared with Thursday’s close of 1,494.73.

The benchmark index opened 1.02 points firmer at 1,495.75 and moved between 1,493.15 and 1,498.32 throughout the trading session.

On the broader market, gainers led decliners 456 to 336, while 407 counters were unchanged, 1,106 untraded and nine others suspended.

Total turnover shed marginally to 2.36 billion units worth RM1.48 bil from 2.39 billion units worth RM1.86 bil on Thursday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed higher in line with the positive sentiment on Wall Street as the US dollar and Treasury yields came off recent highs.

“As for the local bourse, we believe the buying momentum will continue as valuations of local equities are still cheaper than their regional peers,” he said.

Meanwhile, Bursa heavyweights Inari Amertron, Public Bank and Digi added five sen to RM2.75, RM4.69 and RM3.60 respectively, CIMB rose four sen to RM5.44 and Maybank climbed two sen to RM8.97.

Of the actives, Metronic fell one sen to 3.5 sen, Ta Win shed half-a-sen to six sen, Cnergenz recovered 11 sen to RM1.02, Tanco expanded 2.5 sen to 28.5 sen and DNex increased half-a-sen to 82.5 sen. – Sept 9, 2022

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