BURSA MALAYSIA ENDS HIGHER IN SYNC WITH REGIONAL MARKETS

By Abdul Hamid A Rahman

KUALA LUMPUR, April 17 (Bernama) -- Bursa Malaysia rebounded from early losses to close higher today, supported by the upbeat performance of regional peers amid improved investor sentiment.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 6.35 points, or 0.43 per cent, to 1,483.27 compared to Wednesday’s close of 1,476.92.

The benchmark index opened 1.75 points lower at 1,475.17 and moved between 1,473.21 and 1,487.27 throughout the day.

In the broader market, gainers outpaced decliners 455 to 354, while 467 counters were unchanged, 1,134 untraded, and 19 others suspended. 

Turnover slipped to 2.40 billion units valued at RM1.60 billion from 3.00 billion units valued at RM1.65 billion on Wednesday.  

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI resumes its uptrend in tandem with the strong performance across the region.

“Investor sentiment is improving on China President Xi Jinping’s recent tour of Southeast Asia — encompassing visits to Vietnam, Malaysia, and Cambodia — strategically aimed at reinforcing economic ties amid escalating trade tensions with the United States.

“This diplomatic initiative is perceived as a move to counterbalance the impact of substantial US tariffs on Chinese exports and to foster regional alliances,” he told Bernama.

Domestically, Thong said that he remains cautiously optimistic given the improving geopolitical climate in the region, which may stimulate renewed interest among foreign investors.

“We reckon the benchmark index needs to break above the 1,500 level with strong volume and hold it for a longer period to form a base for a stronger uptrend. Hence, we anticipate the FBM KLCI to trend within the 1,470–1,500 range towards the weekend,” he added.

Meanwhile, according to reports, trade talks between the US and Japan kicked off in Washington on Wednesday as both sides aim to ease tensions stemming from US tariffs.

US President Donald Trump called his meeting with the Japanese delegation a sign of “big progress”, without divulging further details. In a posting on Truth Social, he said it was a “great honour” to meet the team.

The Japanese delegation was led by Economic Revitalisation Minister Ryosei Akazawa, who said that Trump is pushing for a deal before the 90-day tariff pause ends, while Japan also hopes for a swift resolution, the reports said.

On the local bourse, heavyweights CIMB Group climbed 5.0 sen to RM6.76, Tenaga Nasional rose 4.0 sen to RM13.48, while Maybank, Public Bank, and IHH Healthcare added 3.0 sen each to RM9.87, RM4.33, and RM6.85 respectively.

Among the actives, NexG increased 5.5 sen to 31.5 sen, Tanco Holdings climbed 1.0 sen to 86 sen, MY E.G. Services and Pertama Digital added half-a-sen each to 91 sen and 14.5 sen, respectively, while NationGate Holdings slipped 1.0 sen to RM1.16.

On the index board, the FBM Emas Index climbed 36.57 points to 11,000.31, the FBMT 100 Index rose 34.23 points to 10,784.10, the FBM Emas Shariah Index advanced 39.03 points to 10,813.94, the FBM 70 Index perked up 1.31 points to 15,427.41, and the FBM ACE Index gained 42.90 points to 4,558.13.

Sector-wise, the Financial Services Index increased 63.23 points to 17,780.90, the Industrial Products and Services Index added 0.75 of-a-point to 144.23, and the Energy Index put on 8.60 points to 655.35.

Meanwhile, the Plantation Index declined 41.30 points to 7,143.15.

The Main Market volume narrowed to 1.14 billion units worth RM1.40 billion from 1.17 billion units worth RM1.36 billion on Wednesday.

Warrants turnover fell to 983.89 million units valued at RM106.68 million from 1.53 billion units valued at RM191.02 million yesterday.

The ACE Market volume shrank to 271.06 million units worth RM92.17 million from 292.67 million units worth RM90.03 million previously.

Consumer products and services counters accounted for 200.76 million shares traded on the Main Market, industrial products and services (178.64 million), construction (96.94 million), technology (203.66 million), SPAC (nil), financial services (57.36 million), property (123.65 million), plantation (18.55 million), REITs (5.48 million), closed/fund (nil), energy (129.61 million), healthcare (52.88 million), telecommunications and media (28.75 million), transportation and logistics (16.60 million), utilities (27.68 million), and business trusts (51,100).

-- BERNAMA