PETALING JAYA: Bursa Malaysia extended its gains to close higher for the fourth straight day, supported by continuous buying in most heavyweights amid the recovery tone in regional markets, a dealer says.
At 5pm yesterday, the FBM KLCI rose 9.85 points to 1,554.56 from Monday’s close of 1,544.71.
The benchmark index, which opened 0.24 of-a-point higher at 1,544.95, moved between 1,541.36 and 1,556.71 throughout the day.
On the broader market, gainers beat decliners 505 to 484, while 479 counters were unchanged, 802 untraded, and 12 others suspended.
Turnover rose to 4.28 billion units worth RM2.93bil from 3.64 billion units worth RM2.71bil on Monday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices saw gains due to a substantial influx of global funds while investors await the US inflation data, which is poised to influence the timing of the Federal Reserve’s rate cut.
“With the upswing in investor sentiment, buying is expected, supported by consistent and strong inflow of foreign funds into the region, while the increasing daily trading volume signifies higher appetite for the market.
“As a result, we are adjusting our weekly FBM KLCI target range upwards to 1,540-1,560, with immediate resistance at 1,560 and support at 1,520,” he told Bernama yesterday.
Among the heavyweights, Malayan Banking Bhd and Public Bank Bhd added one sen each to RM9.83 and RM4.31, respectively, CIMB Group Holdings Bhd rose five sen to RM6.72, Petronas Chemicals Group Bhd climbed seven sen to RM6.92 and Tenaga Nasional Bhd jumped 24 sen to RM11.48.
As for the actives, CTOS Digital Bhd declined 20 sen to RM1.25 and Hong Seng Consolidated Bhd eased half-a-sen to 1.5 sen, while Pan Malaysia Holdings Bhd garnered 8.5 sen to 22.5 sen and TWL Holdings Bhd was flat at 3.5 sen.