KUALA LUMPUR, March 14 — The FTSE Bursa Malaysia KLCI (FBM KLCI) ended the week slightly higher, in line with regional indices despite the weaker performance on Wall Street overnight.
At 5pm, the FBM KLCI rose 2.12 points or 0.14 per cent to 1,512.15 from Thursday’s close of 1,510.03.
The market bellwether opened 10.08 points lower at 1,499.95, and moved between 1,493.29 and 1,516.25 throughout the day.
On the broader market, gainers outpaced losers with 680 to 292, while 437 counters were unchanged, 1,009 untraded, and 13 suspended.
Turnover was marginally lower at 3.24 billion units worth RM2.5 billion from 3.25 billion units worth RM2.90 billion on Thursday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the regional indices finished mostly higher with strong buying on China and Hong Kong stocks as China’s central bank pledged to cut interest.
Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that among FBM KLCI components, utilities stocks led gainers, while financial counters saw the most notable declines.
However, the drop in financial stocks was not substantial, as it was primarily due to dividend payouts on specific stocks.
“Bargain hunting, which emerged yesterday, extended into today’s session following heavy selling pressure earlier in the week. Investors focused on fundamentally strong stocks that had entered oversold territory, making them the main attraction in today’s trading,” he added.
Heavyweights Maybank added two sen to RM10.32, YTL Power gained 13 sen to RM3.12, YTL Corporation rose 11 sen to RM1.93 and 99 Speed Mart increased four sen to RM2.05, but MR DIY fell one sen to RM1.34.
As for the actives, Nationgate appreciated five sen to RM1.36, KNM and Velesto went up half-a-sen each to 4.5 sen and 16 sen. Saudigold shed half-a-sen to one sen while NEXG was flat at 25.5 sen. — Bernama
