Market Overview
The benchmark FTSE Bursa Malaysia KLCI (KLCI) finished Friday on a stronger footing, adding 6.67 points to close at 1,608.75. This uptick came after four straight sessions of losses, during which the index retreated by a cumulative 11.17 points. Throughout the day, the index traded within an 8.24-point range, fluctuating between 1,603.74 and 1,611.98.
While regional sentiment remained mixed, mainland Chinese and Hong Kong markets slipped by nearly 2%. In contrast, the KLCI’s positive finish offered a welcome respite to investors heading into the weekend. For a more comprehensive breakdown of how Bursa Malaysia indices and the ringgit performed, please visit The Edge Malaysia’s summary.
Intraday Movements and Volumes
The key index opened higher by 1.78 points and maintained its upward momentum throughout the morning. By 9:10 am, it was up 3.54 points, and by 10:54 am, it had gained 4.21 points. At the midday break, the KLCI stood at 1,609.02 points, reflecting a half-day range of 6.32 points and a trading volume exceeding 1.59 billion shares/units valued at nearly RM1.04 billion.
Sector Performance
Sector indices generally rallied in tandem with the KLCI’s gain:
- Healthcare: Led the surge, up 2.87% to 2,333.66 points. Earlier at midday, it had already advanced 1.18%.
- Technology: Improved by 2.18% to 63.70 points.
- Construction: Added 1.16%, ending the day at 307.06 points.
A few sectors, however, faced mild pressure:
- Energy: Slipped 0.50% to 820.00 points.
- REIT: Eased 0.36% to 858.22 points.
- Plantation: Dipped 0.25% to 7,635.05 points.
Palm oil-related indices also trended lower, with the USD-based FBMAPUSD shedding 0.50%, the ringgit-based FBMAPMYR down 0.16%, and the non-capped FBMPALMOIL-NC sliding 0.18%.
Top Movers and Actively Traded Stocks
Healthcare giant Top Glove Corporation Bhd was the day’s most actively traded counter, seeing nearly 69.95 million shares/units change hands. The stock added nine sen intraday to settle at RM1.41.
In Technology, Vitrox Corporation Bhd climbed 27 sen to RM3.81, while Petronas Gas Bhd, a Utilities listing, gained 22 sen to RM17.32. Food and beverage heavyweight Nestle (Malaysia) Bhd notched an impressive RM1.22 uptick to reclaim the RM100.00 level for the first time in 30 days.
However, not all counters ended higher. PPB Group Bhd in the Consumer Goods sector shed 12 sen to close at RM12.58, and Tenaga Nasional Bhd, although rising 22 sen at midday, pared gains to add a net 16 sen by closing, finishing at RM13.72.
Bursa Malaysia Bhd, the exchange operator, rose 20 sen intraday to settle at RM8.92, supported by over 1.4 million shares/units traded. Press Metal Aluminium Holdings Bhd gained 10 sen overall, ending at RM5.05.
Over on the LEAP market, Hydropipes Bhd’s initial public offering (IPO) showed strength, rising five sen to RM0.30, representing a notable 20% premium over its IPO price of RM0.25.
Market Breadth and Turnover
Overall market breadth remained positive, with 611 gainers outpacing 488 decliners. Another 477 counters ended unchanged, while 925 remained untraded. Total turnover improved significantly, reaching nearly 2.79 billion shares/units valued at over RM2.40 billion, up from Thursday’s 2.22 billion shares/units valued at about RM1.19 billion.
Outlook
The KLCI’s rebound heading into the weekend suggests a possible shift in investor sentiment after a string of losses. Investors will be watching to see if this momentum can carry forward into the coming week, amid ongoing global market uncertainties and regional pressures.