FBM KLCI, Bursa Malaysia’s benchmark index, today rose 5.32 points, or 0.33%, to close at 1,635.29. The index fluctuated between the range of 1,628.12 and 1,637.29 throughout the trading day.
Healthcare sector stood out, rallied 22.32 points, or 1.1%, to settle at 2,057.36 from 2,035.04, the closing of the previous day.
Bursa’s Technology Index also rose more than 1%.
The market mood was cautious and reserved during the trading hours, as investors are anticipating the reopening of China’s equity market after the Golden Week holidays. The sell-off resulting from China’s rate cut and stimulus package that has drawn some funds to the Mainland, seemed to have largely halted.
Market analysts attribute the day’s gain to positive US job market data and public confidence on the soft landing of the US economy, considering that US is one of the major export market for local manufacturers.
The market saw active trading within the consumer products segment especially the food and beverage sector.
Dutchlady lost 64 sen to close at RM31.46, Fraser & Neave trimmed 52 sen to settle at RM31.28. Meanwhile, PPB Group gained 40 sen to close at RM14.80.
Oil and gas counter Petronas Dagangan topped the gainers’ list, rising 48 sen to close at RM18.42. Hong Leong Industries rose 38 sen to close at RM13.80 and Press Metal gained 18 sen to settle at RM5.10.
Hong Leong Bank, one of the large-cap financial service counters, shed 28 sen to close at RM21.00.
The utility counter, Tenaga Nasional, lost 30 sen to end the day with RM13.98.
Overall, market sentiment was positive with 548 counters closed higher versus 476 that closed lower, with 529 counters unchanged.
Total share volume traded was recorded at 2.76 billion1 shares valued at RM2.74 billion2 .
