Bursa Malaysia Extends Rally as Blue Chips Lift FBM KLCI Above 1,756
KUALA LUMPUR — Bursa Malaysia extended its upward momentum on Wednesday, buoyed by sustained buying interest in selected blue-chip counters amid improving regional sentiment and firmer local currency dynamics.
At the close, the benchmark FTSE Bursa Malaysia KLCI advanced 8.85 points, or 0.51 per cent, to settle at 1,756.39, compared with 1,747.54 in the previous session.
The index opened 3.69 points higher at 1,751.23 before briefly dipping to an intraday low of 1,745.51 during early trade. It later rebounded strongly to touch a high of 1,757.15 in mid-afternoon dealings, ultimately closing near the upper end of its daily range — a sign of sustained buying conviction.
Market breadth remained positive, with 575 gainers outpacing 474 decliners, while 549 counters ended unchanged. A total of 1,087 counters were untraded and 11 suspended.
Turnover improved markedly to 2.55 billion units valued at RM3.06 billion, up from 2.19 billion units worth RM2.35 billion recorded previously, reflecting stronger trading participation.
Blue Chips Anchor the Advance
Heavyweight financial counters were among the main drivers of the rally.
Maybank rose 26 sen to RM12.26, CIMB gained 4 sen to RM8.59, and Public Bank added 3 sen to RM5.14. Tenaga Nasional ended flat at RM14, while IHH Healthcare slipped 2 sen to RM8.75.
The Financial Services Index climbed 158.29 points to 21,870.38, underscoring the sector’s leadership in the day’s performance.
Among the top gainers, Hong Leong Industries surged 76 sen to RM18.20, while LPI Capital and United Plantations each gained 20 sen to close at RM15.38 and RM30.20 respectively.
On the downside, Malaysian Pacific Industries fell RM1.40 to RM30.80, while Fraser & Neave shed 88 sen to RM32.30. Nestle also declined 70 sen to RM111.30.
Improved Sentiment Across the Region
Rakuten Trade’s vice-president of equity research Thong Pak Leng attributed the positive tone to stronger regional indices and improving investor confidence, supported by firmer local currencies against the US dollar.
He added that weaker US retail sales data could increase expectations of a Federal Reserve interest rate cut, a development that tends to boost equity market sentiment globally.
On the domestic front, buying interest remained resilient, suggesting that investors are gradually rebuilding confidence after recent volatility.
Thong expects the FBM KLCI to trade within a near-term range of 1,740 to 1,770 for the remainder of the week.
Recovery Momentum Gains Traction
IPPFA Sdn Bhd’s director of investment strategy and country economist Mohd Sedek Jantan noted that the benchmark index displayed constructive price action throughout the session, maintaining gains into the final hour of trading rather than tapering off.
This, he said, signals stronger conviction compared to earlier sessions where late-day profit-taking had capped advances.
On the broader index board, the FBM Top 100 rose 56.92 points to 12,655.61, while the FBM Emas Index gained 57.20 points to 12,828.77. The FBM Emas Shariah Index added 32.16 points to 12,262.43, and the FBM Mid 70 Index advanced 47.88 points to 17,557.29. The FBM ACE Index edged up 1.73 points to 4,750.49.
Sectorally, gains were seen across financial services, energy and plantation counters, reflecting a broad-based recovery theme.
With trading activity strengthening and blue chips underpinning the rally, Bursa Malaysia appears to be building a firmer technical base, though analysts caution that external developments — particularly US monetary policy signals — will continue to influence near-term direction.
-wilayah.com.my
