Among the regional peers, Japan’s Nikkei 225 climbed 0.56% to 35,025, Indonesia’s IDX Composite increased by 0.86% to 7,257, Singapore’s STI Index expanded 0.37% to 3,261.83, and Hong Kong’s Hang Seng Index jumped 1.17% to 17,090.23.
UOB Kay Hian Wealth Advisors head of investment research Sedek Jantan said the positive sentiment from Wall Street overnight also spurred buying interest in the local data centre theme.
“The Bursa’s sector indices in technology, construction and property led the market higher, registering gains of over 2%,” he told Bernama.
Moreover, he said the government’s “GEAR-uP” programme has been well-received by the market.
“The commitment of six major government-linked investment companies to invest RM120 billion in domestic projects over the next five years is expected to bolster investor confidence,” he said.
As these funds were directed towards high-growth sectors such as technology and infrastructure, Sedek has anticipated increased investment in related companies, driving share prices upward.
“While the full impact on specific sectors may take time to materialise, the overall positive economic outlook generated by this substantial investment programme is likely to benefit the broader market,” he added.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.67 points to 1,596.05 from yesterday’s close of 1,590.38.
The index opened 10.78 points higher at 1,601.16 and moved between 1,591.75 and 1,604.06 throughout the trading session today.
On the broader market, gainers surpassed decliners 1,103 to 218, with 357 counters unchanged, 764 untraded, and 22 others suspended.
Turnover declined to 4.19 billion units worth RM2.93 billion from yesterday’s 4.31 billion units worth RM3.09 billion.
Among Bursa Malaysia heavyweights, Maybank and Public Bank ticked up 2 sen to RM10.16 and RM4.24 respectively, while Tenaga Nasional shed 6 sen to RM13.94, and CIMB and Petronas Chemicals were flat at RM7.30 and RM5.47 respectively.
Of the actives, Cape EMS perked up 4.5 sen to 52 sen, MyEG put on 3 sen to 91.5 sen, Techna-X edged up 3.5 sen to 17 sen, Velesto Energy was unchanged at 21.5 sen, while Hubline eased 0.5 sen to 8.5 sen.
On the index board, the FBM Emas Index jumped 104.51 points to 12,175.17, the FBMT 100 Index increased 85.6 points to 11,807.59, the FBM Emas Shariah Index surged 138.75 points to 12,328.49, the FBM ACE Index garnered 178.27 points to 5,377.66, and the FBM 70 Index expanded 289.46 points to 17,728.99.
Sector-wise, the technology index edged up 2.31 points to 71.15, the construction index gained 7.06 points to 282.9, the property advanced 24.13 points to 1,068.62, the financial services index added 34.22 points to 18,053.83, the plantation index inched up 36.28 points to 7,073.92, and the industrial products and services index climbed 3.26 points to 181.29.
The Main Market volume was unchanged at 2.42 billion units valued at RM2.53 billion from 2.42 billion units valued at RM2.71 billion yesterday.
Warrants turnover decreased to 1.1 billion units worth RM147.18 million from 1.41 billion units worth RM207.52 million yesterday.
The ACE Market volume swelled to 662.41 million shares valued at RM247.55 million from 472.19 million shares valued at RM172.03 million previously.
Consumer products and services counters accounted for 321.48 million shares traded on the Main Market, industrial products and services (665 million), construction (216.24 million), technology (296.51 million), SPAC (nil), financial services (78.11 million), property (321.79 million), plantation (15.84 million), REITs (16.80 million), closed/fund (96,100), energy (220.8 million), healthcare (64.59 million), telecommunications and media (40.62 million), transportation and logistics (111.26 million), utilities (56.89 million), and business trusts (629,900).