UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the US and China agreed to substantially scale back tariffs, providing a much-needed boost to investor confidence, with local equities playing catch-up after Bursa remained closed yesterday for the Wesak Day holiday.
“The improved trade outlook has reignited optimism across regional markets, positioning Malaysia’s benchmark index for potential upside in the near-term,” he told Bernama.
Furthermore, Sedek said the encouraging retail data has also helped lift market sentiment, reinforcing the view that domestic demand remains resilient.
“It testifies to the underlying strength of the Malaysian economy, which continues to provide a buffer against external headwinds and helps the market weather periods of global uncertainty.
“The strong figures are supportive of earnings prospects for consumer-related stocks and, when viewed alongside easing global trade tensions, have contributed to the FTSE Bursa Malaysia KLCI (FBM KLCI)’s sustained upward trajectory today,” he added.
At 5pm, the FBM KLCI surged 2.32%, or 35.89 points, to 1,582.39 from Friday’s close of 1,546.50.
The market benchmark began the day 14.89 points higher at 1,561.39, its lowest level today, before steadily rising to reach an intraday high of 1,582.55 in the late afternoon session.
In the broader market, gainers trounced losers 874 to 323, while 408 counters were unchanged, 778 untraded and 8 suspended.
Turnover expanded to 4.16 billion units worth RM4.48 billion compared to 2.94 billion units worth RM1.89 billion recorded last Friday.
Among heavyweights, Maybank added 31 sen to RM10.20, Public Bank gained 6 sen to RM4.50, both Tenaga Nasional and IHH Healthcare rose 4 sen to RM14.34 and RM7.05, respectively, while MrDIY fell 3 sen to RM1.67.
For active stocks, MyEG was 2 sen higher at 92.5 sen, Inari jumped 27 sen to RM2.21, VS Industry climbed 12 sen to 91.5 sen, while Top Glove fell 2 sen to 84 sen and Sapura Energy was flat at 4.5 sen.
On the index board, the FBM Emas Index jumped 276.86 points to 11,796.90, the FBMT 100 Index garnered 274.72 points to 11,560.65, and the FBM Emas Shariah Index increased 238.10 points to 11,713.86.
The FBM 70 Index leapt 448.07 points to 16,761.78 and the FBM ACE Index rose 42.13 points to 4,725.08.
Across sectors, the financial services index surged 520.63 points to 18,575.92, the industrial products and services index went up 4.13 points to 158.57, the energy index added 27.71 points to 721.15, and the plantation index put on 109.30 points to 7,355.73.
The Main Market volume swelled to 2.15 billion units valued at RM4.15 billion against Friday’s 1.22 billion units valued at RM1.59 billion.
Warrants turnover improved to 1.64 billion units worth RM214.76 million from 1.35 billion units worth RM209.38 million previously.
The ACE Market volume narrowed to 365 million units valued at RM117.50 million compared with 372.11 million units valued at RM100.66 million last Friday.
Consumer products and services counters accounted for 244.52 million shares traded on the Main Market, industrial products and services (404.07 million), construction (159.35 million), technology (431.75 million), SPAC (nil), financial services (208.86 million), property (221.51 million), plantation (27.06 million), REITs (12.81 million), closed/fund (185,300), energy (164.34 million), healthcare (107.84 million), telecommunications and media (65.87 million), transportation and logistics (40.85 million), utilities (62.91 million), and business trusts (32,900).
Meanwhile, in a filing with Bursa, Sentoria Group Bhd’s securities trading will be uplifted from 9am tomorrow, May 14, 2025, as the company has submitted its annual report for the financial year ended Dec 31, 2024, to the exchange.