FBM KLCI GAINS 26.10 POINTS TO CLOSE AT DAY’S HIGH

By Abdul Hamid A Rahman

KUALA LUMPUR, April 14 (Bernama) -- Bursa Malaysia closed higher today, lifted by continued bargain-hunting activities and improved sentiment across regional markets.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 26.10 points to end at its intraday high of 1,480.86, compared to Friday’s close of 1,454.76.

The benchmark index opened 19.29 points higher at 1,474.05, dipped to a low of 1,472.14, before resuming its uptrend thereafter.

In the broader market, gainers thumped decliners 798 to 248, while 359 counters were unchanged, 978 counters untraded, and nine others suspended. 

Turnover rose to 2.99 billion units valued at RM2.06 billion from 2.80 billion units valued at RM2.46 billion last Friday.  

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI closed higher as bargain-hunting activities continued following the recent sell-off.

“Regional equity markets also advanced, driven by easing investor concerns after the US administration announced a temporary tariff exemption on electronic imports from China, which boosted technology-linked stocks,” he told Bernama.

On the local front, Thong said the tariff exemption is seen as a short-term relief.

“Nonetheless, investors appear to be filtering out short-term uncertainties, anticipating that ongoing negotiations will lead to more favourable terms,” he added.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local market may have touched its bottom last week.

“However, sustained upward momentum will hinge on the clarity of US-China trade negotiations and further developments in global monetary policies,” he added.

Among the heavyweights, Tenaga Nasional jumped 16.0 sen to RM13.38, Maybank and Public Bank added 7.0 sen each to RM9.89 and RM4.31, and CIMB Group gained 8.0 sen to RM6.73

Meanwhile, IHH Healthcare slipped 2.0 sen to RM6.78.

Among the actives, MY EG Services and T7 Global climbed 2.5 sen each to 92.5 sen and 28.5 sen, Ekovest added 4.0 sen to 32.5 sen, Inari Amertron advanced 12.0 sen to RM1.78, and NationGate increased 2.0 sen to RM1.25.

--  BERNAMA