KUALA LUMPUR: Bursa Malaysia ended the penultimate day of the year positively after a weak start, driven by buying momentum in selected heavyweights led by Malayan Banking Bhd
or Maybank and Petronas Chemicals Group Bhd amid year-end window dressing by local institutions.
At 5pm, the benchmark FBM KLCI advanced 9.54 points, or 0.59%, to 1,637.68 compared with last Friday’s close of 1,628.14.
The benchmark index opened two points lower at 1,626.14 and moved between 1,624.92 and 1,638.56 throughout the day.
The broader market was also positive, with gainers thumping decliners 614 to 452, while 526 counters remained unchanged, 820 untraded and 67 suspended.
Turnover, however, eased to 2.55 billion units valued at RM2.09bil against last Friday’s 2.87 billion units valued at RM2.08bil.
SPI Asset Management managing partner Stephen Innes said the FBM KLCI surged into the green, driven by the promising prospects of robust foreign direct investment, advancements in the technology sector and solid corporate earnings, all supported by an optimistic economic outlook.
“Amid the uncertainty surrounding tariffs, the belief that several Asian economies could benefit from reshuffled supply chains remains strong,” he told Bernama.
