KUALA LUMPUR (Feb 25): Bursa Malaysia ended the week on a higher note, supported by persistent buying momentum in selected financial services stocks, industrial products and services, as well as technology counters, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.13% or 17.83 points to 1,591.72 from 1,573.89 at Thursday’s close.

The key index opened 5.18 points firmer at its intraday low of 1,579.07 and hit an intraday high of 1,600.49 in the morning session.

Banking heavyweights Malayan Banking Bhd increased 18 sen to RM8.88, Public Bank Bhd rose nine sen to RM4.37, CIMB Group Holdings Bhd climbed 19 sen to RM5.67, and Hong Leong Bank Bhd gained 12 sen to RM19.86.

Meanwhile, Petronas Chemicals Group Bhd added nine sen to RM9.29, Press Metal Aluminium Holdings Bhd was unchanged at RM6.75, while Inari Amertron Bhd bagged five sen to RM3.16.  

The overall market breadth was positive with gainers thumping losers 699 to 318, while 367 counters were unchanged, 901 untraded, and 67 others suspended.

Total turnover shrank to 3.24 billion units worth RM2.92 billion against Thursday’s 5.51 billion units worth RM4.12 billion.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the key indices of regional bourses also finished broadly higher as many investors viewed the political tension between Russia and Ukraine would only have short-term effects on markets and economy.

Meanwhile, he said the recent sell down on regional stocks also provided opportunities for bottom fishing. 

“As for the local bourse, the benchmark index is on course to challenge the 1,600 mark again with strong buying momentum across the board,” he told Bernama, adding that Malaysian equities were higher in line with the positive regional market sentiment. 

For other heavyweights, IHH Healthcare Bhd increased eight sen to RM6.48, Tenaga Nasional Bhd was flat at RM9, and Axiata Group Bhd improved one sen to RM3.82.

Of the actives, SMTrack Bhd inched up two sen to 23.5 sen, Dagang NeXchange Bhd gained one sen to RM1.15, AT Systematization Bhd was unchanged at two sen, Vizione Holdings Bhd eased half-a-sen to six sen, while Ta Win Holdings Bhd perked up one sen to 15.5 sen.

On the index board, the FBM ACE added 79.92 points to 5,948.84, FBM 70 rose 176.15 points to 13,515.94, FBM Emas Index gained 131.11 points to 11,350.24, FBMT 100 Index increased 127.86 points to 11,023.17, and the FBM Emas Shariah Index expanded 71.35 points to 12,016.47.

Sector-wise, the Financial Services Index jumped 324.87 points to 16,484.64, the Industrial Products and Services Index was 2.11 points better at 208.65, and the Plantation Index climbed 76.21 points to 8,098.29.

The Main Market volume narrowed to 2.16 billion shares worth RM2.69 billion from 3.74 billion shares worth RM3.75 billion on Thursday.

Warrants turnover dwindled to 269.01 million units worth RM43.75 million against 420.08 million units worth RM60.48 million on Thursday.

The ACE Market volume declined to 812.63 million shares valued at RM188.63 million versus 1.33 billion shares valued at RM301.51 million previously.

Consumer products and services counters accounted for 403.05 million shares traded on the Main Market, industrial products and services (476.52 million), construction (136.43 million), technology (290.13 million), SPAC (nil), financial services (102.38 million), property (192.79 million), plantation (158.5 million), REITs (10.44 million), closed/fund (10,000), energy (269.1 million), healthcare (44.18 million), telecommunications and media (29.17 million), transportation and logistics (27.94 million), and utilities (24.96 million).