FBM KLCI remains firm as trade sentiment improves

KUALA LUMPURS: Traders remained optimistic on Bursa Malaysia on Tuesday after what was deemed a productive meeting between US President Donald Trump and regional leaders over the weekend.

The FBM KLCI, which had rallied for three consecutive sessions, remained upright, putting on 1.85 points to 1,620.23 at the starting buzzer.

Sentiment was also boosted by the fresh index records achieved on Wall Street overnight as tech earnings and easing tensions between the US and China drove equities prices higher.

Rakuten Trade noted in its review that the there were net foreign inflows over the past two trading days as investors could be taking advantage of the ringgit strengthening against the US dollar ahead of the Federal Reserve's imminent rate cut.

Telekom Malaysia gained eight sen to RM7.34 to lead the blue chips higher. On the broader market, DKSH rose seven sen to RM5.10, MPI added four sen to RM30.58 and MI Technovation gained four sen to RM3.10.

Vitrox gained six sen to RM4.72 after analysts expressed confidence in the semiconductor firm's outlook for the coming year.

Powertechnic listed on the ACE Market today as the top traded stock, rising 3.5 sen to 38.5 sen after 47.52 million shares done.

Other top actives included Borneo Oil, unchanged at 0.5 sen and Perak Transit adding 0.5 sen to 34 sen.