Article:
FBM KLCI Closes Higher for Third Consecutive Session Amid Positive Regional Sentiment
KUALA LUMPUR, February 6, 2025 – The FBM KLCI closed higher for the third straight session, advancing 0.68% to 1,585.17 points, buoyed by strong performances in key heavyweight counters like PETRONAS Gas (PetGas) and Gamuda. Positive sentiment in regional markets provided additional support.
The trading volume on Bursa Malaysia stood at 2.935 billion shares valued at RM2.108 billion. Market breadth remained positive, with 489 gainers against 388 losers and 514 counters unchanged.
Movers and Shakers of the Day
Top Gainers:
- PETRONAS Gas (PetGas): Jumped 2.53% to RM17.80, with a market capitalization of RM35.22 billion.
- Gamuda Bhd: Rose 2.05% to RM4.47, supported by strong trading volumes of 22.44 million shares.
- YTL Power International: Increased by 1.89%, closing at RM3.23, making significant strides in the energy sector.
Top Losers:
- Negri Sembilan Oil Palms: Fell 3.29% to RM3.82, reflecting some profit-taking activity.
- Allianz Malaysia Bhd: Slipped 0.63% to RM18.96 amid muted trading activity.
- KESM Industries: Declined 2.70% to RM3.60 as tech stocks faced headwinds.
Notable Active Counter:
- Northern Solar Holdings: An ACE Market debutant, surged 25.4% to RM0.79 with 133.61 million shares traded, reflecting investor optimism in the renewable energy sector.
Currency Performance: Ringgit vs. USD
The ringgit depreciated slightly by 0.29% against the US dollar, closing at 4.4380. However, it showed resilience against other major currencies:
- Euro: Gained 0.04%, closing at 4.5996.
- Pound Sterling: Strengthened by 0.15%, reaching 5.5284.
- Singapore Dollar: Slightly weaker, settling at 3.2780.
Regional Market Highlights
Regional bourses mirrored the positive sentiment:
- Japan’s Nikkei 225: Climbed 0.61% to 39,066.53.
- South Korea’s KOSPI: Gained 1.10% to 2,536.75.
- Hong Kong’s Hang Seng Index: Advanced 1.43% to 20,891.62.
- China’s CSI 300 Index: Rose by 1.26% to 3,842.83.
Key Takeaways:
- The FBM KLCI continues to ride on positive momentum, with institutional buying playing a pivotal role in stabilizing the market.
- Key counters like PETRONAS Gas and Gamuda led gains, while foreign investors booked profits, contributing to a net outflow.
- The ringgit’s performance against major currencies reflects ongoing global uncertainties, yet it remains relatively stable.
Stay tuned for more updates as we monitor market trends and provide insights on Bursa Malaysia’s performance.