Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FTSE Bursa Malaysia KLCI (FBM KLCI) moved within a tight range today as investors pivoted towards smaller-cap stocks, particularly those within the property, construction, and technology sectors.
“The benchmark index, however, managed to finish in the green due to late buying,” he told Bernama.
Thong noted that key regional markets closed mostly lower due to differing reactions to the outlook of the US interest rate cut, with investors anticipating an earlier cut.
In Hong Kong, the Hang Seng Index tumbled 2.16% to 16,499.47, South Korea’s Kospi slipped 0.23% to 2,748.56, Singapore’s Straits Times Index eased 0.07% to 3,217.97, and China’s SSE Composite Index slid 0.95% to 3,048.03.
However, Japan’s Nikkei 225 rose 0.18% to 40,888.43.
At 5pm, the FBM KLCI inched up 0.98 of-a-point to 1,542.39 from yesterday’s close of 1,541.41.
The benchmark index, which opened 0.15 of-a-point better at 1,541.56, moved in a tight range between 1,537.92 and 1,543.84 throughout the day.
On the broader market, losers beat gainers 544 to 538, while 475 counters were unchanged, 778 untraded, and 18 others suspended.
Turnover increased to 5.08 billion units worth RM2.69 billion from 4.02 billion units worth RM2.94 billion yesterday.
Among the heavyweights, Maybank added four sen to RM9.59, Public Bank and Tenaga Nasional gained two sen each to RM4.24 and RM11.56, respectively, while Petronas Chemicals shed eight sen to RM6.79 and CIMB was flat at RM6.55.
As for the actives, Borneo Oil, Alpha IVF, and Fitters Diversified were flat at 0.5 sen, 32 sen, and 5.5 sen, respectively.
TWL gave up one sen to 2.5 sen and SP Setia advanced seven sen to RM1.33.
On the index board, the FBM Emas Index increased 18.61 points to 11,555.1, the FBMT 100 Index was 18.28 points firmer at 11,204.18, the FBM 70 Index surged 72.02 points to 15,970.7, the FBM ACE Index perked up 21.01 points to 4,856.34, and the FBM Emas Shariah Index put on 19.68 points to 11,651.98.
Sector-wise, the plantation index gave up 16 points to 7,336.67, the industrial products and services index trimmed 0.29 of-a-point to 178.73, and the energy index slipped 0.27 of-a-point to 934.34, but the financial services index added 45.2 points to 17,188.88.
The Main Market volume surged to 3.35 billion units valued at RM2.27 billion from 2.34 billion units valued at RM2.51 billion yesterday.
Warrants turnover expanded to 877.09 million units worth RM117.79 million from 785.77 million units worth RM111.6 million yesterday.
The ACE Market volume dwindled to 858.13 million shares worth RM296.59 million from 893.95 million shares worth RM316.39 million previously.
Consumer products and services counters accounted for 294.02 million shares traded on the Main Market, industrial products and services (1.3 billion); construction (276.85 million); technology (164.67 million); SPAC (nil); financial services (75.56 million); property (854.77 million); plantation (35.86 million); REITs (16.78 million), closed/fund (81,000); energy (127.86 million); healthcare (48.11 million); telecommunications and media (47.02 million); transportation and logistics (58.5 million); and utilities (50.35 million).