Kuala Lumpur:Bursa Malaysia's index extended its winning streak to four consecutive days, closing higher on Wednesday as bargain hunting in banking heavyweights persisted. The market remained largely positive throughout the trading session.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.37 points, or 0.26 percent, to close at 1,627.72, up from Tuesday's close of 1,623.35. The index opened slightly higher at 1,623.94, recorded an intraday low at that level, and reached a high of 1,628.01.
In the broader market, gainers surpassed decliners with 541 to 532, while 566 counters were unchanged, 1,216 remained untraded, and 21 were suspended. The turnover decreased to 3.25 billion units worth RM3.03 billion, compared to 3.60 billion units worth RM3.32 billion on Tuesday.
Financial services saw notable gains, with Public Bank rising five sen to RM4.75, AMMB Holdings gaining seven sen to RM6.34, and Maybank adding two sen to RM9.98. Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, maintained a positive outlook, noting that recent corrections have made valuations of certain blue chips more attractive, offering opportunities for further accumulation.
Thong anticipates the FBM KLCI will consolidate with a mild upward bias, although recovery might be selective due to weak broader market participation. He also mentioned that Malaysia's upcoming third quarter 2026 GDP estimate and US inflation data could influence market sentiment.
Conversely, Berjaya Research Sdn Bhd's head of research, Kenneth Leong, warned of potential near-term profit-taking after four consecutive sessions of gains. He expects cautious trading ahead, with key resistance levels at 1,630-1,640 points and support at 1,600 and 1,580 points.
Among heavyweights, MISC rose 45 sen to RM8.37, IHH Healthcare increased by three sen to RM8.01, with Sunway and SD Guthrie each adding five sen to RM4.45 and RM5.97, respectively. Petronas Chemicals Group jumped 11 sen to RM4.43. In active trade, ACE Market debutant Ecosys closed at 80 sen, up 53 sen from its IPO price, while Top Glove added 5.5 sen to 91 sen.
On the index board, the FBM Mid 70 Index increased by 66.88 points to 17,444.88, while the FBM Emas Shariah Index and FBM Emas Index rose by 30.88 points and 35.85 points respectively. The FBM Top 100 Index saw a gain of 35.57 points, although the FBM ACE Index slipped by 30.10 points.
Sector-wise, the Industrial Products and Services Index edged up, the Financial Services Index bounced significantly, and the Plantation Index also saw an advance. However, the Energy Index experienced a decline.
The Main Market volume decreased, while the ACE Market volume saw an increase. Consumer products and services, industrial products and services, and technology were among the most actively traded sectors.