FBM KLCI gains 3.42 points as heavyweight buying lifts benchmark
The index finished at its intraday high, while declining counters narrowly outnumbered gainers across Bursa Malaysia.
Bursa Malaysia’s benchmark reached 1,611.56 at the Oct 23 close, its highest level of the session, after rising 3.42 points or 0.21 per cent. An analyst said selective buying of heavyweight shares helped counter cautious sentiment.
The FTSE Bursa Malaysia KLCI (FBM KLCI) had started trading at 1,607.63 and touched a low of 1,604.38 during the morning. Across the exchange, losses were recorded by 529 counters, against 528 that gained, while 532 were unchanged.
Trading involved 3.18 billion units valued at RM2.47 billion. That compared with Thursday’s volume of 2.89 billion units and value of RM2.69 billion.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng linked fragile sentiment to a technology-led Wall Street correction. He said the Nasdaq’s overnight fall of 2.6 per cent reflected renewed worries about AI investment financing and profitability. He considered the benchmark holding above 1,600 encouraging, although buying conviction remained modest.
Maybank ended at RM10.06 after a nine sen rise, while TNB’s six sen advance took it to RM13.30. Public Bank closed at RM4.75, up four sen. CIMB held at RM7.15, but IHH Healthcare slipped to RM7.90, losing nine sen.
Elsewhere, Nestle finished at RM89.54 following a 58 sen increase. Malaysian Pacific Industries closed at RM40.00 and Hong Leong Bank at RM21.20, both down 30 sen.
