Bursa Malaysia Ends Higher As Budget 2027 Provides Fresh Catalysts
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Oct 9 (Bernama) -- Bursa Malaysia ended higher today, buoyed by market optimism and sustained buying activity following the Budget 2027 announcement, which provided fresh catalysts for the market.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.44 points, or 0.47 per cent, to 1,608.45 from Thursday’s close of 1,601.01.
The benchmark index, which opened 1.93 points higher at 1,602.94, moved between 1,600.55 and 1,609.94 throughout the session.
On the broader market, gainers outpaced losers 627 to 450, while 547 counters were unchanged, 1,204 untraded and 13 suspended.
Turnover decreased to 3.33 billion units worth RM2.90 billion, compared with 3.51 billion units worth RM3.46 billion yesterday.
YTL Power International added 14 sen to RM5.70, while 99 Speed Mart Retail and Press Metal Aluminium gained 11 sen each to RM3.23 and RM7.23. These three counters collectively lifted the composite index by 5.45 points.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Budget 2027 could provide fresh catalysts for domestic consumption, infrastructure and selected growth sectors.
“We remain cautious but see increasingly attractive opportunities following the recent sell-off, which has brought valuations of selected blue chips to more compelling levels.
“While persistent foreign selling remains a key headwind, domestic institutional support and resilient economic fundamentals should help cushion the downside,” he told Bernama.
Meanwhile, he said the FBM KLCI rebounded following the recent sharp correction, with oversold conditions attracting bargain hunting amid firmer regional emerging markets.
“Brent crude eased 1.3 per cent to US$102.91 per barrel, although elevated energy prices and bond market volatility remained key concerns,” he said.
Among other heavyweights, Gamuda perked up 14 sen to RM5.09, Hong Leong Bank went up 38 sen to RM21.48, Sunway Bhd edged up nine sen to RM4.40, while Petronas Gas eased 68 sen to RM17.12 and IOI Properties slid three sen to RM3.35.
In active trade, Zetrix AI added one sen to 8.5 sen, V.S Industry put on 1.5 sen to 34.5 sen, NationGate jumped 15 sen to RM2.11, Top Glove shed three sen to 84.5 sen, and Dagang NeXchange inched down half a sen to 52 sen.
Among the top gainers, Nestle increased by 72 sen to RM90.16, Mi Technovation surged 70 sen to RM6.78, Malaysian Pacific Industries improved 58 sen to RM44.08, United Plantations gained 30 sen to RM30.70, and Dutch Lady Milk Industries climbed 26 sen to RM29.50.
The top losers included Fraser & Neave which fell 30 sen to RM20.34, Negri Sembilan Oil Palms declined 16 sen to RM5.29, Genting Plantations shrank 15 sen to RM5.59, while Hengyuan Refining Company and FCW Holdings erased 11 sen each to RM3.66 and RM1.70, respectively.
--BERNAMA