KL SHARES END BROADLY HIGHER LED BY CONSTRUCTION, UTILITY STOCKS

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Feb 5 (Bernama) -- Shares on Bursa Malaysia closed broadly higher with buying mainly in construction, properties, utilities, and technology sectors, analysts said.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.63 per cent or 9.95 points to 1,574.51, compared with Tuesday’s close of 1,564.56.

The benchmark index, which opened 1.07 points higher at 1,565.63, moved between 1,564.43 and 1,576.45 throughout the day. 

On the broader market, gainers outnumbered decliners 622 to 345, while 493 counters were unchanged, 840 untraded and 10 suspended.

Turnover improved to 2.86 billion units worth RM2.32 billion compared with 2.23 billion units valued at RM2.05 billion on Tuesday.  

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said however, the key regional markets saw mixed performances at the close, reflecting investor uncertainty over the economic impact of new US-China tariffs.

Back home, the online equities broker said it is cautiously optimistic about the local market as the US trade war could heighten market volatility and dampen investor confidence.

Nevertheless, the valuation of FBM KLCI remains attractive accompanied by the improving economic conditions.

“We suggest investors focus more on blue chip stocks while maintaining a well-diversified portfolio to mitigate risks. The benchmark index must break above the resistance at 1,590 and maintain that level longer to regain a bullish momentum.

“As such, we anticipate the FBM KLCI to trend within the 1,560-1,590 range for the rest of the week,” he told Bernama. 

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI's positive performance was also supported by bargain hunting in data centre-related stocks.

However, trading volume remained weak as investors stayed cautious, awaiting further developments on US President Donald Trump’s tariff policies.

Gains in the index were led by the construction and utilities sectors, both rebounding more than three per cent, he said.

On the global trade front, Mohd Sedek said the tariffs on China appear less disruptive to US consumers and producers than those imposed on Canada and Mexico, giving Trump greater flexibility in negotiations.

“Trump has indicated that he is in no hurry to engage with China’s President Xi Jinping. While these tariffs could indirectly impact China’s trade partners in Asia, the effects remain manageable.

“More importantly, this situation could create new opportunities for Asian economies to strengthen trade ties with the US,” he added. 

Among the heavyweights, Gamuda climbed 20 sen to RM4.38, YTL Power International rose 13 sen to RM3.17, and YTL Corporation added 7.0 sen to RM1.95. Public Bank perked up 4.0 sen to RM4.44, and Press Metal Aluminium gained 6.0 sen to RM4.98.

For the most active stocks, TWL and Harvest Miracle Capital were both flat at 2.5 sen and 19.5 sen respectively, Oriental Kopi eased half-a-sen to 89.5 sen, MYEG gained 1.0 sen to 97 sen, and Nationgate was 11.0 sen better at RM1.95.

On the index board, the FBM Emas Index surged 88.91 points to 12,023.74, the FBMT 100 Index advanced 84.21 points to 11,715.87, and the FBM Emas Shariah Index soared 116.27 points to 11,871.04.

The FBM ACE Index climbed 69.42 points to 5,287.51 and the FBM 70 Index jumped 168.13 points to 17,835.99.

Sector-wise, the Financial Services Index put on 34.47 points to 19,061.73, the Industrial Products and Services Index ticked up 0.71 of-a-point to 165.21, the Plantation Index added 58.17 points to 7,431.25, and the Energy Index rose 8.15 points to 821.54. 

The Main Market volume increased to 1.33 billion units valued at RM2.01 billion from 1.08 billion units worth RM1.79 billion on Tuesday.

Warrants turnover expanded to 924.38 million units worth RM94.71 million against 687.14 million units valued at RM71.04 million yesterday.

The ACE Market volume jumped to 604.78 million units valued at RM218.53 million versus 465.50 million units worth RM186.55 million previously.

Consumer products and services counters accounted for 153.32 million shares traded on the Main Market, industrial products and services (243.07 million), construction (164.52 million), technology (155.45 million), SPAC (nil), financial services (58.95 million), property (228.90 million), plantation (30.99 million), REITs (13.85 million), closed/fund (11,300), energy (101.51 million), healthcare (63.39 million), telecommunications and media (14.89 million), transportation and logistics (15.20 million), utilities (90.03 million), and business trusts (925,400).

-- BERNAMA