KUALA LUMPUR, June 5 — Bursa Malaysia ended on a firmer note today, outperforming a broadly weaker regional market, as local sentiment was supported by bargain hunting in oversold blue-chip stocks following the benchmark index’s recent slide.

IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said Bursa Malaysia’s rebound from yesterday’s losses came despite a cautious regional backdrop, with most Asian markets mirroring Wall Street’s overnight decline, amid concerns that persistent inflation could limit the scope for near-term US Federal Reserve rate cuts.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.52 points, or 0.62 per cent, to 1,683.26 from Wednesday’s close of 1,672.74.

The index, which opened 1.75 points higher at 1,674.49, moved between 1,673.70 and 1,689.83 throughout the day.

Despite gains in the key index, market breadth remained negative, with losers outnumbering gainers 678 to 525, while 531 counters were unchanged, 924 untraded, and 12 suspended.

Turnover trimmed to 3.47 billion units valued at RM3.58 billion compared with 3.85 billion units valued at RM4.69 billion on Wednesday.

Regionally, Hong Kong’s Hang Seng Index fell by 1.48 per cent to 25,253.40, Singapore’s Straits Times Index went down 1.38 per cent to 5,067.53, Japan’s Nikkei 225 dipped 1.36 per cent to 67,470.69, and South Korea’s KOSPI Composite Index tumbled 1.84 per cent to 8,639.41.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said hopes for progress in US-Iran negotiations faded after reports emerged that Tehran had suspended indirect discussions with Washington.

“Back home, sentiment remains fragile as foreign investors continue to trim their positions while global uncertainties linger.

“While bargain hunting may continue to provide some support to the market, investors are likely to remain selective amid concerns over geopolitical developments, the global interest rate outlook, and the direction of foreign fund flows,” he told Bernama.

Among heavyweights, Maybank jumped 18 sen to RM10.60, Public Bank increased four sen to RM4.78, Tenaga Nasional gained two sen to RM14.10, CIMB firmed 15 sen to RM7.35, and IHH added three sen to RM8.79.

Of the active stocks, Pharmaniaga bagged 3.5 sen to 29 sen, SKP Resources perked up 2.5 sen to 37.5 sen, while VS Industry and Velesto were half a sen lower at 21.5 sen and 30 sen, respectively, and Zetrix was flat at 82.5 sen.

As for the top gainers, Nestle rose RM1.60 to RM95.12, United Plantations put on RM1.18 to RM31.30, KL Kepong advanced 70 sen to RM20.20, Batu Kawan climbed 56 sen to RM20.16, and SD Guthrie garnered 20 sen to RM6.04.

Among the top losers, Malaysian Pacific Industries dropped RM1.46 to RM47.44, Fraser & Neave fell 78 sen to RM26.88, Press Metal slid 28 sen to RM9.00, while UWC and Pentamaster lost 26 sen each to RM5.61 and RM4.25, respectively. — Bernama

KUALA LUMPUR, June 5 — Bursa Malaysia closed higher, with the benchmark index rising 0.60 per cent as bargain-hunting persisted following the recent sell-off, despite weaker performances across regional markets.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.17 points to 1,693.43 from Thursday’s close of 1,683.26.

The benchmark index opened 3.19 points higher at 1,686.45 and traded between 1,684.36 and 1,698.53 during the trading session.

However, broader market sentiment remained negative, with losers outnumbering gainers 666 to 477. A total of 574 counters were unchanged, 958 untraded and 12 suspended.

Turnover fell to 3.41 billion units worth RM3.04 billion from 3.47 billion units worth RM3.58 billion on Thursday.

Regionally, Hong Kong’s Hang Seng Index fell 1.45 per cent to 24,961.95, Singapore’s Straits Times Index slipped 0.40 per cent to 5,047.28, Japan’s Nikkei 225 declined 1.31 per cent to 66,588.12, and South Korea’s KOSPI Composite Index tumbled 5.54 per cent to 8,160.59.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key regional indices closed lower as profit-taking in technology stocks persisted.

“Market attention is now focused on the upcoming US nonfarm payrolls data for May, due later today, as investors seek further clues on the health of the world’s largest economy. Meanwhile, a slew of economic data from China next week is expected to influence regional sentiment,” he told Bernama.

Among heavyweights, Maybank rose 20 sen to RM10.80, Public Bank added nine sen to RM4.87, Tenaga Nasional and CIMB gained four sen each to RM14.14 and RM7.39, respectively, while IHH Healthcare advanced six sen to RM8.85.

Among active stocks, Hap Seng, Zetrix and GIIB were unchanged at one sen, 82.5 sen and 47 sen, respectively. CBH Engineering gained six sen to 68 sen, while Pharmaniaga fell 1.5 sen to 27.5 sen.

Among the top gainers, United Plantations surged 90 sen to RM32.20, Concrete Engineering climbed 69 sen to RM3.34, Petronas Dagangan gained 46 sen to RM19.24, Hong Leong Bank advanced 34 sen to RM21.32, and Dutch Lady rose 28 sen to RM33.00.

Among the top losers, Nestle trimmed 84 sen to RM94.28, Malaysian Pacific Industries shed 64 sen to RM46.80, UMS Integration lost 23 sen to RM8.00, Kelington declined 25 sen to RM7.65, and Fraser & Neave dropped 48 sen to RM26.40.

On the index board, the FBM Emas Index rose 40.54 points to 12,602.06, the FBM Top 100 Index increased 43.97 points to 12,441.90, while the FBM Emas Shariah Index shed 2.50 points to 12,570.15.

The FBM Mid 70 Index declined 66.35 points to 18,299.60, while the FBM ACE Index added 9.30 points to 4,733.24.

By sector, the Financial Services Index jumped 238.82 points to 19,784.31, the Energy Index climbed 3.82 points to 796.20, the Industrial Products and Services Index inched up 0.31 of-a-point to 198.74, while the Plantation Index fell 27.41 points to 8,671.54.

Main Market volume narrowed to 1.78 billion units valued at RM2.67 billion from 2.11 billion units valued at RM3.29 billion on Thursday.

Warrants turnover rose to 1.07 billion units valued at RM158.92 million from 933.20 million units valued at RM131.84 million previously.

ACE Market volume increased to 557.48 million units valued at RM208.90 million from 428.13 million units valued at RM162.39 million yesterday.

Consumer products and services counters accounted for 236.51 million shares traded on the Main Market, followed by industrial products and services (306.21 million), construction (138.56 million), technology (481.77 million), financial services (77.83 million), property (174.38 million), plantation (41.74 million), real estate investment trusts (11.70 million), closed-end funds (12,300), energy (82.91 million), healthcare (111.00 million), telecommunications and media (43.88 million), transportation and logistics (28.68 million), utilities (47.09 million), and business trusts (26,200). — Bernama