TARIFF PAUSE LIFTS BURSA MALAYSIA, CI UP 4.47 PCT AT CLOSE

By Anas Abu Hassan

KUALA LUMPUR, April 10 (Bernama) -- Bursa Malaysia rebounded sharply to close higher today, with the benchmark index rising 4.47 per cent, amid improved market sentiment across the region following the United States (US) tariff pause announcement.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 62.54 points to 1,463.13 from Wednesday’s close of 1,400.59.

The benchmark index opened 63.71 points higher to 1,464.30, then retreated a low of 1,453.13 after 15 minutes of trading before continuing to trend to a high of 1,473.36 at mid-morning and maintained its positive momentum towards closing.

Market breadth was positive, with gainers overwhelming decliners 1,075 to 183, while 261 counters were unchanged, 847 untraded, and 10 suspended.  

Turnover expanded to 4.41 billion units valued at RM3.81 billion compared to 3.77 billion units valued at RM3.79 billion on Wednesday.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FBM KLCI recovery was broad-based across all index components, reflecting improved investor sentiment following an overnight rally on Wall Street.

"The catalyst behind the renewed optimism was US President Donald Trump’s decision to delay the implementation of higher reciprocal tariffs, which offered temporary relief to global markets.

"However, the existing 10 per cent tariffs remain in effect and continue to pose downside risks to market stability," he told Bernama.

In addition, Mohd Sedek said investor focus will shift to the release of US Consumer Price Index (CPI) data and weekly jobless claims later tonight.

Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng advised investors to stay alert, given the evolving nature of the tariff situation and the uncertainty surrounding Trump’s shifting trade policy.

"We anticipate the benchmark index to trend within the range of 1,419-1,480 towards the weekend," he added.

Among heavyweights, Maybank jumped 49 sen to RM9.99, Public Bank rose 16 sen to RM4.25, Tenaga Nasional climbed 48 sen to RM13.30, CIMB bagged 56 sen to RM6.91, and IHH Healthcare gained nine sen to RM6.80.

For the actives, MYEG rose eight sen to 83.5 sen, Top Glove garnered nine sen to 91 sen, Inari Amertron jumped 27 sen to RM1.72, Supermax put on 4.5 sen to 85 sen, and SumiSaujana edged up one sen to 19 sen.

On the index board, the FBM Emas Index jumped 498.63 points to 10,842.41, the FBMT 100 Index garnered 491.96 points to 10,640.80, and the FBM Emas Shariah Index climbed 466.13 points to 10,568.82.

The FBM 70 Index surged 852.76 points to 15,235.13 and the FBM ACE Index rose 223.47 points to 4,369.73.

Across sectors, the Financial Services Index soared 859.39 points to 17,764.21, the Industrial Products and Services Index edged up 6.76 points to 138.80, the Energy Index firmed 47.35 points to 659.94, and the Plantation Index increased 206.80 points to 7,045.89.

The Main Market volume advanced to 2.55 billion units worth RM3.52 billion from 2.28 billion units worth RM3.56 billion on Wednesday.

Warrants turnover expanded to 1.35 billion units valued at RM134.97 million against 995.82 million units valued at RM87.78 million yesterday.

The ACE Market volume improved to 494.69 million units worth RM155.19 million versus 491.66 million units worth RM138.32 million previously.

Consumer products and services counters accounted for 262.53 million shares traded on the Main Market, industrial products and services (443.75 million), construction (188.51 million), technology (497.64 million), SPAC (nil), financial services (178.11 million), property (203.74 million), plantation (35.61 million), REITs (20.71 million), closed/fund (26,600), energy (292.69 million), healthcare (271.33 million), telecommunications and media (28.71 million), transportation and logistics (56.78 million), utilities (74.09 million), and business trusts (68,300).

-- BERNAMA