Bursa Malaysia To Continue Uptrend Following MITI-US Officials Meeting

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, April 25 (Bernama) -- Bursa Malaysia stayed higher at midday following the meeting between Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and the United States (US) officials in Washington.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.42 of-a-point, or 0.03 per cent, to 1,506.94 from Thursday’s close of 1,506.52.

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The index opened 5.12 points better at 1,511.64 and moved between 1,505.68 and 1,512.29 during the morning trading session.

Market breadth was positive as gainers outpaced decliners 502 to 305. A total of 399 counters were unchanged, 1,251 untraded and 39 suspended.

Turnover stood at 1.91 billion shares worth RM910.41 million.

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UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that the market should assess the developments after the lunch break.

“We expect a reaction from foreign investors,” he told Bernama.

In a statement today, the Investment, Trade and Industry Ministry (MITI) said that Malaysia is open to negotiating with the US on four key areas, namely reducing the trade deficit; addressing non-tariff barriers; strengthening technological safeguards and security; and exploring a potential bilateral trade agreement.

MITI said Malaysia stands ready to continue collaborating with the US to reach mutually agreeable solutions regarding the reciprocal tariff matter announced by US President Donald Trump’s administration.

Tengku Zafrul is in Washington to engage with US Secretary of Commerce, Howard Lutnick and US Trade Representative, Ambassador Jamieson Greer, on the reciprocal tariff imposed by the US on Malaysia.

“Malaysia is encouraged by the recent 90-day pause on the proposed tariff measures and views it as a window of opportunity for constructive engagement.

“Malaysia has publicly stated that it will not take retaliatory action against the US but stands ready to collaborate on mutually agreeable outcomes about the concerns raised by the Trump Administration,” the ministry said.

Among the heavyweights, Maybank eased 3.0 sen to RM9.92, Tenaga Nasional went down 2.0 sen to RM13.58, CIMB slid 1.0 sen to RM6.97, IHH Healthcare was 2.0 sen lower at RM6.86, while Public Bank was flat at RM4.37.  

As for actives, Richtech put on 4.0 sen to 28.5 sen, Nationgate perked 7.0 sen to RM1.25, Yong Tai and Tanco edged up half-a-sen to 22.5 sen and 86 sen, respectively, while Bina Puri shed 12 sen to 25.5 sen.

On the broader index board, the FBM Emas Index gained 34.53 points to 11,189.07, the FBMT 100 Index expanded 27.58 points to 10,963.73, the FBM Emas Shariah Index climbed 45.57 points to 11,034.89 and the FBM 70 Index soared 137.32 points to 15,714.50, while the FBM ACE Index trimmed 8.89 points to 4,594.61.

Sector-wise, the Industrial Products and Services Index was 1.71 points firmer at 147.62 and the Energy Index ticked up 6.95 points to 672.79, while the Financial Services Index shed 3.92 points to 17,992.0 and the Plantation Index decreased by 0.19 of-a-point to 7,193.17.

-- BERNAMA