KUALA LUMPUR: Bursa Malaysia rallied on Friday, supported by broad-based gains that lifted the benchmark index to an intraday high and secured a positive close for the week.
The FBM KLCI staged a 16.97-point rally, or 1.02%, to 1,686.54 after hitting a low of 1,670.28. For the week, the index rose 1%, or 16.78 points.
Gainers outpaced losers 616 to 469, while 581 counters were unchanged. About 2.83 billion shares, valued at RM2.75bil, changed hands.
Dealers said bargain hunting and short-covering in blue chips lifted the market, helping the FBM KLCI close higher for the week.
They added that buying interest was also supported by improved regional sentiment.
On Bursa Malaysia, Malaysian Pacific Industries
emerged as the top gainer, surging 90 sen to RM33.30. Hong Leong Bank followed, rising 42 sen to RM23.06, while ViTrox added 38 sen to RM4.69 and Hong Leong Financial Group advanced 38 sen to RM19.74.
Conversely, Allianz-PA slid 74 sen to RM20.26, while Malayan Cement fell 15 sen to RM7.95. Panasonic Manufacturing shed 13 sen to RM7.33 and Hume Cement Industries lost 11 sen to RM3.48.
In terms of fund flows, foreign investors were net sellers, offloading RM56 mil worth of equities. Local institutions and retail investors emerged as net buyers, with purchases totalling RM54 mil and RM2 mil, respectively.
On the forex market, the ringgit fell 0.26% against the US dollar to 4.0715 and inched down 0.06% against the Singapore dollar to 3.1646.
Kenanga Research has retained a modest bias towards US dollar strength over the coming months and expects the ringgit to trade within a 4.05-4.10 range.
“While January seasonality is supportive for the US dollar, markets appear complacent about geopolitical risks, leaving risk assets vulnerable to renewed escalation. Tonight’s labour data may offer limited guidance, with attention likely to focus on the unemployment rate.
“A rise to 4.6% would trigger the Sahm Rule and could weigh
on the US dollar. Beyond NFP, softer oil prices and the US Supreme Court’s tariff ruling could add to near-term US dollar volatility,” it said.
Most regional bourses finished higher. Among key markets:
Japan’s Nikkei 225 closed up 1.61% to 51,939.89;
Hong Kong’s Hang Seng Index rose 0.32% to 26,231.79;
China’s CSI300 Index added 0.45% to 4,758.92;
Taiwan’s Taiex fell 0.24% to 30,288.96;
South Korea’s Kospi rose 0.75% to 4,586.32 and;
Singapore’s Straits Times Index rose 0.12% to 4,744.66 points.
