Kuala lumpur: Bursa Malaysia closed on a firm note, boosted by selective buying in banking and telecommunications heavyweights, as investor sentiment improved following an extended ceasefire in West Asia. The FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 11.31 points, or 0.66%, to end at 1,721.70, up from the previous close of 1,710.39.
According to BERNAMA News Agency, the benchmark index opened higher at 1,715.55 and traded between 1,714.41 and 1,723.51 throughout the day. The broader market saw gainers outnumber losers 706 to 485, with 562 counters unchanged, 1,018 untraded, and 43 suspended. Turnover increased to 3.48 billion units valued at RM3.10 billion, compared to 3.19 billion units valued at RM2.69 billion from the previous trading day.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, commented that the FBM KLCI ended higher due to persistent buying interest in selected blue chips and a stabilizing index. He noted that despite ongoing external uncertainties, the local market exhibited underlying support, with investors engaging in bargain hunting on market dips. Investors are expected to focus on resilient sectors with strong fundamentals while exercising caution on riskier positions.
Key regional markets closed mostly lower as investors adopted a cautious approach amid heightened tensions in West Asia, despite the ceasefire extension. Among the heavyweights, Maybank held steady at RM11.22, while Public Bank and Tenaga Nasional added eight sen each to RM4.84 and RM14.60, respectively. CIMB Group and IHH Healthcare both improved by four sen, and Telekom Malaysia and Axiata Group saw gains as well.
In terms of active stocks, Zetrix AI edged up half-a-sen, and ACE Market debutant AMS Advanced Material rose 1.5 sen. On the other hand, Velesto Energy and AirAsia X saw declines, while Bumi Armada rose three sen. Top gainers included Malaysian Pacific Industries and Dutch Lady Milk, with notable increases in their share prices.
Conversely, top losers included Nestle, United Plantations, and Fraser and Neave, all of which experienced declines. The index board reflected positive movements across several indices, with the FBM Emas Index, FBMT 100 Index, FBM Emas Shariah Index, FBM 70 Index, and FBM ACE Index all recording gains.
Sector-wise, the Financial Services Index and Industrial Products and Services Index saw increases, while the Plantation Index fell. The Main Market volume experienced a decline, while warrants turnover and ACE Market volume saw an increase from the previous day. Consumer products and services, industrial products and services, and construction were among the sectors with significant trading volumes on the Main Market.