Bursa traders lock in gains ahead of weekend, but momentum continues to grow


KUALA LUMPUR: The FBM KLCI retained a marginal lead by the end of the early session as traders slipped into profit-taking mode ahead of the weekend.

The benchmark index was up 0.42 points to 1,506.94 as market trading halted for midday recess, with investors holding on to the progress made in the latter half of the week.

Global market sentiment continues to grow as US President Donald Trump softened his stance when answering reporters about potential US-China negotiations.

Coupled with an upbeat earnings report from US tech giant Alphabet, which gave the AI-theme a shot in the arm, US stock futures are pointing towards yet another positive opening on Wall Street tonight.

Asian markets remained on a recovery rally, led by Japan's Nikkei jumping 1.94% to 35,718 and Hong Kong's Hang Seng index rising 1.36% to 22,206.

Shanghai's composite index gained 0.15% to 3,302 while Singapore's Straits Times added 0.1% to 3,834.

Back on Bursa Malaysa, the advancing issues outnumbered decliners 1.67-to-1. Volume was 1.91 billion shares transacted for RM910.44mil.

There was some buying interest in YTL Power, up seven sen to RM3.34, and PETRONAS Chemicals, gaining nine sne ot RM3.44 and Hong Leong bank climbing four sen to MR19.90.

Meanwhile, among semiconductor-related plays, Vitrox jumped 15 sen to RM2.85, Pentamaster surged 12 sen to RM2.40 and Frontken added 12 sen to RM3.51.

 

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Bursa Malaysia , KLCI , equities , trading , stock

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