FBM KLCI finishes above 1,500-level
KUALA LUMPUR: The FBM KLCI ended above the psychological 1,500-level on Monday, driven by renewed buying interest in selected heavyweights.
The market bellwether closed up 9.84 points, or 0.66% at 1,502.07, with 18 out of the 30 constituent counters ending higher.
There were 546 gainers, 355 losers and 407 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.38 billion shares valued at RM1.49bil.
Dealers said the broadly upbeat mood comes on declining expectations for hefty interest rate rises as well as strong US corporate earnings.
According to S&P Global, Malaysia's manufacturing purchasing managers index (PMI) rose to 50.6 in July from 50.4 in June, buoyed by a renewed rise in production levels.
Though only slight, the expansion was the first since December 2021.
Among the gainers on Bursa Malaysia, SAM Engineering jumped 67 sen to RM4.46, Kuala Lumpur Kepong advanced 58 sen to RM22.50, F&N added 30 sen to RM22 and PETRONAS Dagangan gained 28 sen to RM22.68.
Consumers stocks dominated the losers’ list on Bursa Malaysia. Nestle shed 40 sen to RM134.30, Dutch Lady fell 30 sen to RM32.70 and Heineken Malaysia lost 20 sen to RM22.50.
Meanwhile, the main bourses around the region closed higher with MSCI's Asia ex-Japan stock index firmer by 0.25%.
Japan's Nikkei index ended up 0.69% to 27,993.35 while South Korea’s Kospi added 0.03% to 2,452.25.
Hong Kong’s Hang Seng index climbed 0.046% to 20,165.84.
China’s CSI300 index was up 0.45% at 4,188.68 and Shanghai Composite index added 0.21% at 3,259.96.