FBM KLCI ends on positive note despite subdued trading

KUALA LUMPUR, Nov 24 — The FTSE Bursa Malaysia KLCI (FBM KLCI) closed slightly higher today despite subdued trading, in line with the performance of regional markets, a dealer said.

At 5pm, the barometer index rose 0.63 of-a-point to 1,453.92 from yesterday’s closing of 1,453.29.

The index opened 2.49 points better at 1,455.78 and moved between 1,451.08 and 1,456.05 throughout the day.

Market breadth was negative, with decliners outpacing gainers 528 to 392, while 473 counters were unchanged, 1,009 untraded and 10 others suspended.

Turnover narrowed to 3.50 billion units valued at RM2.35 billion from 3.71 billion units valued at RM2.08 billion yesterday.

Rakuten Trade equity research vice-president Thong Pak Leng said the FBM KLCI managed to finish in positive territory largely due to strong buying on Genting Bhd and Genting Malaysia Bhd following their splendid quarterly earnings.

He said key regional indices trended lower reflecting the lacklustre economic signals from Japan coupled with some profit takings following yesterday’s rally.

“Back home, the market undertone was still cautious due to the increasing global market volatility,” he told Bernama.

Among the heavyweights, Maybank was unchanged at RM9.09, Public Bank and Tenaga were down two sen to RM4.25 and RM10, respectively, CIMB gained one sen to RM5.75 and Petronas Chemicals climbed 14 sen to RM7.30.

Of the actives, Top Glove put on 1.5 sen to 90 sen, Leform went up one sen to 29.5 sen, Hong Seng was flat at 2.5 sen, CSH added half-a-sen to six sen, and Widad lost half-a-sen to 46.5 sen.

On the index board, the FBM Emas Index was 4.46 points lower at 10,768.73, the FBMT 100 Index slid 3.29 points to 10,430.89 and the FBM Emas Shariah Index shed 20.64 points to 10,944.01.

The FBM 70 Index slid 38.38 points to 14,331.74, while the FBM ACE Index rose 3.27 points to 5,205.43.

Sector-wise, the Financial Services Index gained 1.08 points to 16,384.32, the Energy Index dipped 10.82 points to 834.85, the Plantation Index was 16.12 points weaker at 6,931.35, while the Industrial Products and Services Index went up 0.77 of-a-point to 174.11.

Main Market volume trimmed to 2.09 billion units valued at RM2.04 billion from 2.50 billion units valued at RM1.80 billion yesterday.

Warrants turnover increased to 710.88 million units valued at RM87.76 million against 573.50 million units valued at RM75.05 million previously.

ACE Market volume advanced to 677.28 million shares worth RM223.46 million versus 637.42 million shares worth RM210.79 million yesterday.

Consumer products and services counters accounted for 358.17 million shares traded on the Main Market, industrial products and services (502.14 million); construction (71.52 million); technology (204.08 million); SPAC (nil); financial services (44.46 million); property (199.52 million); plantation (39.13 million); REITs (10.29 million), closed/fund (21,600); energy (141.98 million); healthcare (318.45 million); telecommunications and media (36.02 million); transportation and logistics (31.66 million); and utilities (136.58 million). — Bernama