KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed one per cent higher today, as market turnover hit a more than one-year high on interest in data centre-related stocks and blue chips.
At 5 pm today, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 1.01 per cent or 14.89 points to 1,477.26 from Wednesday's close of 1,462.37.
Total market volume was 6.37 billion, the highest since November 24, 2022 when it reached 6.86 billion.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI continued its upward trend with strong buying in YTL Power International Bhd and YTL Corp Bhd, driven by robust earnings from their Singapore power business and optimistic expectations in the data center sector.
In addition, Thong said interest in blue chips such as Tenaga Nasional Bhd and Malayan Banking Bhd was strong.
Thong said the benchmark FBM KLCI successfully breached the 1,465 resistance line.
"If it can sustain this breakout for an extended period," he said the firm is optimistic that the FBM KLCI is well-positioned for further advancement. "For the time being, we anticipate the index to trend within the range of 1,465-1,480 towards the weekend.
He spots the next resistance at 1,500, with support at 1,450.
Among the heavyweights, YTL Power International advanced 20 sen to RM3.00, Tenaga increased 36 sen to RM10.42, Malayan Banking Bhd added 14 sen to RM9.03 and YTL Corporation and Axiata Group both ticked up to RM2.05 and RM2.49, respectively.
Of the actives, Hong Seng Consolidated Bhd was down half sen at 2.5 sen while Minetech Resources Bhd rose 3.5 sen to 21 sen, Ekovest Bhd increased one sen to 55 sen, BSL Corp Bhd added half-a-sen to 4.5 sen and Asdion climbed 3.5 sen to 14 sen.Ends