KUALA LUMPUR: Bursa Malaysia’s benchmark index extended its gains to close higher on Friday, in line with regional markets, as continued bargain-hunting bolstered sentiment ahead of this month’s anticipated meeting between US President Donald Trump and Chinese President Xi Jinping.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.27 points to 1,613.27 from Thursday’s close of 1,608.0.
The market barometer opened 0.97 of-a-point weaker at 1,607.03 and moved between 1,607.03 and 1,615.30 throughout the trading session.
The broader market was positive with 610 gainers outpacing 445 losers, while 537 counters were unchanged, 1,104 untraded, and 12 suspended.
Turnover declined to 2.98 billion units worth RM2.43 billion compared with 3.44 billion units worth RM2.66 billion on Thursday.
Rakuten Trade Sdn Bhd’s vice-president of equity research Thong Pak Leng said the meeting may ease concerns over the ongoing trade tensions between the world’s two largest economies.
“As for the local bourse, the FBM KLCI remains stuck in a consolidation mode and we reckon a breakout at 1,630 will pave the way for further upside,” he told Bernama.
Among heavyweight counters, Maybank rose six sen to RM9.90, Public Bank added one sen to RM4.22, CIMB increased four sen to RM7.37, and Tenaga Nasional was 10 sen firmer at RM13.22. IHH Healthcare was flat at RM8.33.
On the most active list, Perak Transit and Tanco gained half-a-sen each to 33.5 sen and 88.5 sen, respectively. Zetrix AI lost 1.5 sen to 84 sen, Pharmaniaga fell one sen to 25.5 sen, while TWL was flat at 2.5 sen.
Among the top gainers, Malaysian Pacific Industries rose 28 sen to RM29.98, MI Technovation and MISC climbed 24 sen each to RM3.09 and RM7.75, respectively, KESM advanced 23 sen to RM3.44, and Petronas Gas gained 20 sen to RM18.74.
Among the top decliners, United Plantations decreased 42 sen to RM24.0, Ayer Holdings dipped 38 sen to RM7.02, Fraser & Neave shed 30 sen to RM28.16, and Allianz slipped 26 sen to RM17.88.
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