At 5pm, the FBM KLCI rose 5.43 points, or 0.33%, to 1,641.97 from Monday’s close of 1,636.54.
PETALING JAYA: Bursa Malaysia’s market bellwether finished higher yesterday, thanks to mild buying in consumer products and services, telecommunications and banking stocks, amid a mixed regional market performance.
At 5pm, the FBM KLCI rose 5.43 points, or 0.33%, to 1,641.97 from Monday’s close of 1,636.54. The benchmark index, which opened 2.02 points firmer at 1,638.56, moved between 1,636.89 and 1,643.64 throughout the trading session.
In the broader market, decliners however thumped gainers 558 to 509, with 493 counters unchanged, 917 untraded, and nine suspended.
Turnover expanded to 2.87 billion units valued at RM2.77bil from 2.23 billion units worth RM2.09bil on Monday.
UOB Kay Hian Wealth Advisers head of investment research Mohd Sedek Jantan said despite the ongoing concerns surrounding the US corporate earnings and geopolitical risks, the market received a boost from Prime Minister Datuk Seri Anwar Ibrahim’s comments that the GST would only be reinstated if the minimum wage rises to at least RM3,000, providing investors with more confidence and a clearer policy outlook.
“Consequently, consumer and telecommunications stocks emerged as top performers among the FBM KLCI components,” he told Bernama. The property and financial services sectors led the gains among Bursa sectoral indices.
