KUALA LUMPUR: The FBM KLCI rebounded on Friday after seven straight sessions of losses, as investors picked up bargains in line with gains across regional markets.
The 30-stock index rose 4.31 points, or 0.25%, to 1,712.67, after moving between an intraday high of 1,715.71 and a low of 1,710.30.
Despite Friday’s gains, the benchmark index still ended lower for the second consecutive week, slipping 1.58% over the five trading sessions.
There were 629 gainers, 539 losers and 540 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.7 billion shares valued at RM3.57bil.
Dealers said buying interest in technology and semiconductor counters lifted the local market, in line with gains across regional bourses.
However, they noted that cautious sentiment persisted amid the lack of fresh market catalysts, with investors continuing to focus on ongoing corporate earnings releases for trading direction.
On Bursa Malaysia, semiconductor and technology stocks dominated the gainers list. Among the top gainers, Malaysian Pacific Industries
surged RM2.30 to RM48.50, while ViTrox added 44 sen to RM6.92.
MI Technovation gained 38 sen to RM4.20, SkyeChip rose 37 sen to RM2.70 and KESM climbed 27 sen to RM4.53.
In contrast, PETRONAS Dagangan slid 96 sen to RM17.84, while Nestlé fell 40 sen to RM95.60. Petron Malaysia lost 26 sen to RM4.10 and Ta Ann declined 23 sen to RM5.38.
In terms of fund flows, foreign investors were net sellers on Bursa Malaysia on Thursday, offloading RM156mil worth of equities.
Local institutions and retailers emerged as net buyers, with purchases amounting to RM62mil and RM95mil, respectively.
Meanwhile, the ringgit slipped 0.09% against the US dollar to 3.9948, while remaining flat against the Singapore dollar at 3.0983.
The local currency strengthened 0.1% against the euro to 4.6013, but edged 0.04% lower against the pound sterling to 5.3250.
Around the region, MSCI’s Asia ex-Japan stock index rose 0.77%, with most regional bourses ending higher. Among the key regional markets:
Japan’s Nikkei 225 surged 2.68% to 63,339.07;
Hong Kong’s Hang Seng Index rose 0.86% to 25,606.03;
China’s CSI300 Index added 1.3% to 4,845.10;
Taiwan’s Taiex climbed 2.17% to 42,267.97;
South Korea’s Kospi advanced 0.41% to 7,847.71 and;
Singapore’s Straits Times Index rose 0.4% to 5,065.32 points.
