BURSA Malaysia rebounded from yesterday’s losses to close broadly higher today, with the benchmark index breaching and staying above the 1,500-psychological level amid positive market sentiment across the region.
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.23 points to end the day at its intraday-high of 1,505.56 compared to yesterday’s close of 1,492.33, driven by continuous buying momentum in selected index-linked counters led by Press Metal Aluminium Holdings Bhd.
The benchmark index opened 5.48 points better at 1,497.81 this morning and remained in positive territory throughout the session.
Banking stocks were mostly upbeat, including CIMB Bank Holdings Bhd, Malayan Banking Bhd, Hong Leong Financial Group, Hong Leong Bank Bhd, Public BankBhd and RHB Bank BHd following slower-than-expected inflation data in the US which might provide some space for the Federal Reserve not to hike rates aggressively.
The broader market was bullish as gainers overwhelmed losers 628 to 260, while 379 counters were unchanged, 1,016 untraded, and 12 others suspended.
Total turnover increased to 2.55 billion units worth RM1.97 billion from 2.17 billion units worth RM1.68 billion yesterday. – Bernama / pic TMR File