UOB Kay Hian Wealth Advisors' Mohd Sedek said the local bourse displayed resilience, underpinned by the influx of foreign capital and shifting sentiment.
KUALA LUMPUR: Bursa Malaysia bounced back from losses to close on a firmer footing yesterday, with the key index gaining 1.63%, buoyed by bargain hunting, renewed foreign fund inflows, and signs of easing trade-related anxieties.
At 5pm, the FBM KLCI jumped 24.66 points to 1,540.22 from Tuesday’s close of 1,515.56.
The market bellwether opened 2.51 points higher at 1,518.07, marking its intraday low, and climbed to its intraday high at closing.
On the broader market, market breadth was positive with 454 gainers outpacing 347 decliners, while 475 counters were unchanged, 1,143 untraded, and 96 suspended.
Turnover slid to 2.56 billion units valued at RM2.25bil against Tuesday’s 3.04 billion units valued at RM1.81bil.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local bourse displayed resilience, underpinned by the influx of foreign capital and shifting sentiment.
“Notably, US President Donald Trump’s tariff 2025 announcement, which initially drove the composite index to a 20-month low of 1,400.59 on April 9, ultimately proved to be a boon in disguise.
“A sectoral symphony unfolded post-tariff, with export-oriented and consumer discretionary stocks harmonising to drive gains.
“This dynamic emerged as investors rotated into undervalued segments of the market, positioning ahead of potential trade normalisation,” he told Bernama.
Besides, he said, encouraging geopolitical developments further stabilised sentiment, with Trump’s executive order to moderate proposed auto tariffs and ongoing US-South Korea talks reportedly nearing a preliminary “agreement of understanding”.
Meanwhile, Australia’s pre-election push for tariff clarity underscored the global reverberations of US trade policy.
Mohd Sedek opined that with trade tensions potentially easing, Malaysia’s export-heavy sectors may benefit from improved prospects.
“April’s journey from sharp declines to a remarkable recovery demonstrates the market’s adaptability in the face of volatility. Investors will now focus on the technology and export sectors as key areas for growth in May,” he added.
Among the heavyweights, Petronas Chemicals Group Bhd
gained 20 sen to RM3.67, Press Metal Aluminium Holdings Bhd added 11 sen to RM4.90, CIMB Group Holdings Bhd put on 10 sen to RM7.12, Petronas Gas Bhd rose 68 sen to RM17.50, and Axiata Group Bhd perked up six sen to RM2.10.
