FBM KLCI retakes 1,600 level with 2.69-point gain
Advancing counters outnumbered losers, while turnover reached RM2.58 billion despite lower trading volume.
The FTSE Bursa Malaysia KLCI (FBM KLCI) ended Oct 21 at 1,602.27, gaining 0.16 per cent, or 2.69 points. An analyst said selective bargain hunting lifted the benchmark back above 1,600, but a shift in buying towards smaller-cap technology stocks restrained the advance.
The benchmark’s previous closing level was 1,599.58. It began trading at 1,603.41, which proved to be its highest point for the session, before touching an early-session low of 1,596.69.
Market breadth was positive, with 626 gainers against 416 losers and 502 counters ending unchanged. Turnover totalled RM2.58 billion on volume of 2.76 billion units, compared with RM2.42 billion and 2.86 billion units in the previous session.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said continuing foreign selling kept sentiment cautious. He nevertheless pointed to resilient Malaysian economic fundamentals and September inflation easing to 1.8 per cent as reassurance on domestic price pressures.
Heavyweight shares ended mixed. An 11 sen rise took Press Metal to RM6.86, and IHH Healthcare added three sen, reaching RM7.94. CIMB slipped one sen, ending at RM7.14, while an eight sen decline left TNB at RM12.98.
Among the leading gainers, Vitrox ended at RM10.68 following a 38 sen increase, and UWC rose 34 sen, reaching RM7.30. Nestle lost 66 sen, closing at RM89.34. NWE Resources, making its ACE Market debut, ended unchanged at 20 sen.
