KUALA LUMPUR: Bursa Malaysia has maintained its uptrend for the fifth consecutive day on persistent buying momentum, supported by the positive market sentiment and strong commodity and oil prices.
At 9.09 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.90 points to 1,573.70 from Wednesday's close of 1,569.80.
The market bellwether opened 0.92 of-a-point higher at 1,570.72.
Market breadth was positive with gainers outpacing losers 246 to 181, while 290 counters were unchanged, 1,535 untraded and 23 others suspended.
Turnover stood at 313 million shares worth RM159 million.
Malacca Securities Sdn Bhd said foreign investors snapped up RM236.5 million worth of local equities yesterday -- the highest daily net buying since mid-June amidst the calmer local political environment.
"While the key index continues to build on its rebound momentum, profit-taking activities may emerge following the strong surge," the research house said in a note today.
It believes that investors may target the plantation and energy sectors following the rising crude palm oil price and the firmer crude oil price, with the oil benchmark Brent crude hovering above US$72 per barrel.
Traders may also look for recovery theme stocks under the construction and building material segments.
Internationally, investors are waiting for the outcome of the United States Federal Reserve annual Economic Policy Symposium to gauge the monetary policy outlook, which is expected to affect the market sentiment.
Among the heavyweights, Petronas Chemicals climbed 23 sen to RM8.38, Sime Darby rose eight sen to RM2.34, Press Metal added six sen to RM5.30, while MISC and Telekom Malaysia increased nine sen to RM7.00 and RM6.05, respectively.
Meanwhile, Maybank lost one sen to RM8.32 and Public Bank recovered one sen to RM4.11.
Among the actives, Ta Win advanced two sen to five sen, Parkson was three sen higher at 22.5 sen, while BCM Alliance and Scope Industries dropped two sen to 7.5 sen and 34.5 sen, respectively.
On the index board, the FBM Emas Index improved 22.57 points to 11,472.03, the FBMT 100 Index was 22.07 points better at 11,180.66, the FBM Emas Shariah Index gained 38.72 points to 12,590.62, the FBM 70 rose 7.52 points to 14,941.16 and the FBM ACE lost 21.89 points to 7,267.23.
Sector-wise, the Plantation Index increased 29.96 points to 6,692.97, the Financial Services Index dipped 23.62 points to 15,358.33 and the Industrial Products and Services Index edged up 2.29 points to 196.88.
-- BERNAMA
Bernama
Thu Aug 26 2021
Market breadth was positive with gainers outpacing losers 246 to 181, while 290 counters were unchanged, 1,535 untraded and 23 others suspended. - BERNAMA
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.