By Engku Shariful Azni Engku Ab Latif & Karina Imran
KUALA LUMPUR, Aug 3 (Bernama) -- Bursa Malaysia ended marginally higher on Monday supported by late buying in selected large-cap stocks amid improving investor sentiment, despite lingering geopolitical uncertainties, an analyst said.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.83 of a point to 1,725.73 from last Friday’s close of 1,724.90.
The benchmark index opened 0.36 of a point higher at 1,725.26, and moved between 1,719.47 and 1,729.72 throughout the day.
However, the broader market was negative with losers outpacing gainers 609 to 490, while 573 counters were unchanged, 1,058 untraded and 20 suspended.
Turnover shrank to 2.73 billion units valued at RM2.33 billion from 3.10 billion units valued at RM3.57 billion last Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said regional markets ended mostly lower amid renewed concerns over artificial intelligent (AI) spending and technology valuations.
However, he said market sentiment was partially supported after US President Donald Trump signalled that negotiations over the Strait of Hormuz would begin on Monday, raising hopes of easing geopolitical tensions and reducing the risk of prolonged disruptions to global energy supplies.
“Brent crude prices subsequently fell sharply, helping to ease inflation concerns and lifting sentiment in global equity futures,” he told Bernama.
On the domestic front, Thong said investors are likely to maintain a cautious stance given the uncertain global economic outlook, while continued foreign fund inflows should help cushion downside risks and provide underlying support to the local market.
“As such, we expect the FBM KLCI to trade within the 1,710 to 1,740 range this week,” he said.
Among the heavyweights, Maybank slid six sen to RM10.84, Tenaga Nasional fell 10 sen to RM14.50, IHH Healthcare shed five sen to RM8.30, while Public Bank perked up three sen to RM5.20 and CIMB added 12 sen to RM8.01.
As for the active stocks, Hubline edged down half-a-sen to three sen, Zetrix AI lost two sen to 72.5 sen, HHRG slipped 1.5 sen to 11.5 sen, Tanco inched up one sen to 27 sen, and VS Industry was flat at 23 sen.
Of the lead gainers, Nestlé put on RM1.60 to RM102.70, United Plantations climbed 48 sen to RM34.20, Hong Leong Industries rose 28 sen to RM18.0, AmBank soared 27 sen to RM7.03, and Lebtech surged 21 sen to 86 sen.
Fraser & Neave led the losers list, falling 40 sen to RM27.50, Frontken Corporation sank 19 sen to RM5.02, while Petronas Chemicals, Sam Engineering & Equipment and Sunway Construction declined 17 sen each to RM4.61, RM4.38 and RM7.75, respectively.
On the index board, the FBM Emas Index rose 0.63 of a point to 12,752.42, the FBM Top 100 Index inched up 0.09 of a point to 12,585.20, but the FBM Mid 70 Index gave up 25.27 points to 18,110.51.
The FBM Emas Shariah Index dropped 38.93 points to 12,557.36 and the FBM ACE Index climbed 6.64 points to 4,981.32.
Sector-wise, the Industrial Products and Services Index eased 1.84 points to 187.30, the Energy Index was 1.83 points lower at 763.89, while the Financial Services Index surged 110.55 points to 20,438.20, and the Plantation Index improved 16.48 points to 9,305.06.
The Main Market volume declined to 1.38 billion units valued at RM2.05 billion compared to 1.50 billion units valued at RM3.24 billion last Friday.
Warrants turnover dipped to 868.17 million units worth RM122.04 million versus 1.08 billion units worth RM139.50 million previously.
The ACE Market volume slipped to 474.34 million units valued at RM164.93 million from 509.99 million units valued at RM189.47 million on Friday.
Consumer products and services counters accounted for 168.87 million shares traded on the Main Market, industrial products and services (252.97 million), construction (75.23 million), technology (256.23 million), financial services (87.43 million), property (165.22 million), plantation (14.08 million), real estate investment trusts (12.53 million), closed-end fund (53,300), energy (81.80 million), healthcare (36.14 million), telecommunications and media (41.29 million), transportation and logistics (168.78 million), utilities (28.32 million), and business trusts (5,400).
-- BERNAMA