Malaysian shares climb as KLCI moves above 1,615
Nestle topped the gainers, rising RM2.38 to RM96.66, while advancing counters outnumbered declining stocks 251 to 94.
Malaysian equities traded higher on October 28, with the FTSE Bursa Malaysia KLCI at 1,615.24 by 9.10am, a gain of 3.39 points or 0.21 per cent. Bernama reported that sentiment improved after Wall Street advanced following new artificial intelligence funding announcements.
The index started at 1,614.49, compared with the previous close of 1,611.85. Trading volume reached 218.30 million units, valued at RM87.52 million. Alongside the 251 gainers and 94 losers, there were 297 unchanged counters, while 2,225 were not traded and 104 were suspended.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, told Bernama that investors were looking towards forthcoming corporate results, particularly from technology companies. He said bargain hunting, largely supported by local funds, had helped lift the Malaysian benchmark in the preceding session.
Banking heavyweights posted modest gains: Maybank added one sen, reaching RM10.00, and CIMB gained two sen, taking it to RM7.13. Malaysian Pacific Industries advanced 30 sen, reaching RM41.60. Among declining shares, United Plantations dropped 38 sen to RM29.32, and Westports Holdings fell 16 sen to RM6.92.
Other market gauges also rose. A 23.53-point increase put the FBM Emas Index at 12,062.82, while the FBM ACE Index reached 5,445.75 after gaining 27.12 points. The Financial Services Index added 31.79 points, reaching 18,632.82.
