MARKET > NEWS

FBM KLCI MARGINALLY HIGHER AT MID-DAY

08/11/2024 02:27 PM

KUALA LUMPUR, Nov 8 (Bernama) -- Bursa Malaysia remained marginally higher, tracking Wall Street’s strong overnight performance and aligning with most regional peers.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was up 1.68 points, or 0.10 per cent, to 1,624.96 from Thursday’s close of 1,623.28.

The benchmark index opened 4.34 points higher at 1,627.62 and moved between 1,622.00 and 1,627.62 during the morning session.

However, the market breadth was negative, with decliners outpacing gainers 586 to 246, while 464 counters were unchanged, 1,110 untraded, and 17 suspended.

Turnover amounted to 1.66 billion shares worth RM927.12 million.

In a note today, Malacca Securities Sdn Bhd said that with Wall Street reaching new highs, fuelled by the positive “Trump sentiment” and the US Federal Reserve cutting interest rates, buying interest is expected to spill over into the local market, particularly in the technology sector, as the ringgit environment still favours export-driven companies.

“Additionally, as we approach the earnings season, we believe that data centre projects implemented earlier will begin contributing to earnings.

“As a result, we expect sectors such as construction, building materials, and property to perform well in the near term,” it added.

Among the heavyweights, CIMB Group rose 6.0 sen to RM8.24, and Tenaga Nasional gained 10.0 sen to RM14.46. Maybank and Public Bank were flat at RM10.58 and RM4.50, while IHH Healthcare fell 2.0 sen to RM7.23.

Of the active counters, Microlink Solutions and 3Ren rose 2.0 sen each to 16.0 sen and 48.0 sen, while Aizo Group was flat at 15.0 sen. Meanwhile, Genetec Technology declined 7.5 sen to 85.0 sen, and Talam Transform was down half-a-sen to 2.0 sen.

On the index board, the FBM Emas Index decreased 21.55 points to 12,277.98, the FBMT 100 Index fell 19.16 points to 11,979.80, the FBM Emas Shariah Index dropped 25.92 points to 12,228.38, the FBM 70 Index declined 145.09 points to 17,833.21, and the FBM ACE Index lost 30.23 points to 5,134.62.

Sector-wise, the Financial Services Index gained 9.68 points to 19,316.67, the Energy Index added 2.10 points to 830.08, and the Plantation Index gained 21.07 points to 7,601.00.

The Industrial Products and Services Index edged down 0.57 of-a-point to 172.72.

-- BERNAMA

 

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy