BURSA Malaysia ended the week on a positive note, thanks to encouraging economic data in Malaysia and from the US said an analyst.

The local market was driven by strong buying in energy, healthcare, and industrial products sectors, he added.

Malaysia saw a robust gross domestic product (GDP) expansion of 5.9% in the second quarter of 2024 (2Q 2024), exceeding the earlier advanced estimate of 5.8%, bolstered by resilient household spending, vigorous investment activities and a significant boost in tourism arrivals.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.68% or 10.96 points better at 1,623.90 from Thursday’s (Aug 15) close of 1,612.94.

The index kicked off the day with a gain of 9.26 points to 1,622.20 and moved between 1,617.18 and 1,624.71 throughout the session.

In the broader market, gainers trounced decliners 802 to 324, with 451 counters unchanged, 909 untraded and 23 others suspended.

Turnover however fell to 3.22 billion units valued at RM2.75 bil from Thursday’s 3.54 billion units worth RM2.76 bil. - Aug 16, 2024

https://focusmalaysia.my/bursa-malaysia-closes-week-strong-amid-robust-buying-interest/