KUALA LUMPUR – Bursa Malaysia capped with mild profit-taking on Friday after yesterday’s buying period.
At 9.12am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.08 of-a-point to 1,610.25 compared to 1,610.17 at Thursday’s close.
The FBM KLCI opened with 0.83 of-a-point higher at 1,611.
The gainers outpaced the decliners by 287 to 237. Meanwhile, 389 counters were unchanged, 1,496 untraded and 24 others suspended.
The turnover totalled to 421.34 million units which is worth RM218.15 million.
Malacca Securities Sdn Bhd said both the FBM70 and FBM Small Cap indexes are charging towards all-time highs.
“As anticipated, the bullish tone on the local front could persist as most of the indices have registered new highs, with the recent data centre trading catalyst.
“Thus, it looks encouraging for the traders to hold on to the technology sector as we think that the hard disk drive, cloud and cybersecurity segments may flourish, while earnings from the industry have bottomed out,” it said.
Other related sectors that could be benefiting under this theme include the construction, building material, property, utilities and renewable energy.
Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said that the consensus had caused growth for the earnings in the year 2025 as well as benchmark index’s prospects for this year and 2025. This revises the year-end target to 1,730 from 1,660 previously.
In the United States, both the Nasdaq and S&P 500 continue to chart record highs as sentiment remains very much in tune with recent weakness in May’s inflation data. The Dow Jones, however, ended lower.
In Malaysia, heavyweights Tenaga Nasional increased 8 sen to RM14.22, YTL 3 sen to RM3.63 and YTL Power 4 sen to RM5.20.
In contrast, Press Metal shrank 12 sen to RM5.86, MISC 3 sen to RM8.44 after yesterday’s rally.
Among the active counters, JCY eased 1 sen to 88.5 sen, Sunview bagged 5 sen to 79 sen, while Computer Forms and Aemulus gained 1.5 sen each to 18.5 sen and 45.5 sen respectively.
On the index board, the FBM Emas Index decreased 2.07 points to 12,423.12, the FBMT 100 Index gained 2.62 points to 11,985.02, and the FBM Emas Shariah Index slid 16.07 points to 12,793.63.
The FBM 70 Index shaved 16.85 points to 18,269.71 and the FBM ACE Index firmed by 42.54 points to 5,885.32.
Sector-wise, the Financial Services Index advanced 13.03 points to 17,573.07, the Industrial Products and Services Index inched down 1.12 points to 199.75 and the Energy Index shed 6.63 points to 1,005.61, but the Plantation Index improved 0.64 of-a-point to 7,028.46. – June 14, 2024