KUALA LUMPUR: Bursa Malaysia reversed last Friday’s losses to close higher yesterday, tracking gains in regional markets.
At 5pm, the FBM KLCI climbed 1.44 points, or 0.09%, to 1,537.51 from last Friday’s close of 1,536.07 points.
The benchmark had opened 0.10 of a point lower at 1,535.97 and hovered between 1,533.93 and 1,538.33 throughout the session.
The market breadth was negative, with 514 decliners outpacing 432 gainers and 510 counters unchanged, while 962 were untraded and nine suspended.
Turnover declined to 2.93 billion shares worth RM1.67bil, compared with 3.37 billion shares worth RM2.3bil last Friday.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, said the key index’s positive performance was underpinned by stronger-than-expected trade data from China, with exports rising 5.8% year-on-year in June, well above the 3.6% forecast.
“The data suggested that Chinese exporters were accelerating shipments ahead of the expiry of the 90-day tariff reprieve, providing some relief to global market sentiment and partially offsetting lingering concerns over Washington’s tariff rhetoric,” he told Bernama.
Investors will also monitor more upcoming data from China, particularly June trade figures and the second-quarter gross domestic product.
The Chinese government is due to release the economic data soon.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market sentiment remained cautious amid ongoing concerns over US tariffs, with investors closely monitoring their implications for Asean economies and global supply chains.
“Nevertheless, the benchmark index is well supported above the 1,530 level.
“While commodity-related stocks saw some selling pressure, defensive and stable names in banking, consumer and utilities showed resilience,” he noted.
Thong anticipates the FBM KLCI to trend within the range of 1,530 to 1,560 for the week.
Among the heavyweights, Malayan Banking Bhd
gained three sen to RM9.72, while Public Bank Bhd and Tenaga Nasional Bhd rose two sen each to RM4.34 and RM13.98, respectively.
CIMB Group Holdings Bhd and IHH Healthcare Bhd both edged up one sen to RM6.69 and RM6.59.
In active trade, NexG Bhd gained two sen to 47 sen, Wentel Engineering Holdings Bhd grew 1.5 sen to 33.5 sen, Malaysian Resources Corp Bhd added half-a-sen to 54 sen, Zetrix AI Bhd was 1.5 sen lower to 98.5 sen and Tanco Holdings Bhd was flat at 90.5 sen.
