Bursa Malaysia closed slightly higher on Wednesday with the FTSE Bursa Malaysia KLCI rising 1.10 points to 1,604.25, due to gains in the utility sector which offset selling pressure in the plantation sector.
At 5pm, the FTSE Bursa Malaysia KLCI rose 1.10 points to 1,604.25 from Tuesday’s close of 1,603.15. — Picture by Zuraneeza Zulkiflias a first-time user . Exclusively for Malay Mail readers: Use codeKUALA LUMPUR, Nov 27 — Bursa Malaysia finished slightly higher on Wednesday as gains in utility stocks helped offset selling pressure in the plantation sector .The benchmark index opened 1.81 points lower at 1,601.34 and moved between 1,600.83 and 1,609.41 throughout the day.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the utility sector index gained 1.8 per cent, bolstered by earnings announcements from key players in the sector. He noted that the October PCE report is expected to highlight persistent inflationary pressures, with core PCE projected to rise 0.3 per cent month-on-month and headline PCE likely increasing by 0.2 per cent, mirroring September’s figures.
Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said closer to home, a narrow decline in China’s industrial profits by 10 per cent in October compared to the 27.1 per cent plunge in September may help to lend some support. Among the active stocks, Genetec Technology soared 29.5 sen to RM1.17, MBSB rose two sen to 74.5 sen, JCY International added five sen to 40.5 sen, Globetronics expanded six sen to 59 sen, and Cape EMS slid half-a-sen to 35.5 sen.
Bursa Malaysia FTSE Bursa Malaysia KLCI Utility Sector Plantation Sector Stock Market
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