M+ Market Wrap - 29 Oct 24

FBM KLCI: 1,615.08 pts (+4.61pts, +0.29%)

Following the positive overnight performance on Wall Street, the FBM KLCI (+0.29%) trended higher to close at 1615.08, supported by heavyweights like MAXIS (+18.0 sen) and CIMB (+7.0 sen). The market breadth, however was negative, with 497 losers against 490 winners. In the broader market, the Technology (+0.64%) sector gained the most, led by GREATEC (+6.0 sen) and UWC (+11.0 sen), as the Biden administration has finalised its curbs on US investments into Chinese chips and AI companies, which is expected to have a positive spillover effect towards the local semiconductor companies. Meanwhile, the Property (-0.65%) sector declined the most.

Top 3 Active stocks:
PHB (4464): RM0.010 (+0.5 sen)
BARAKAH (7251): RM0.060 (+2.0 sen)

FOCUS (0116): RM0.025 (+0.5 sen)

Volume: 2.48 bn (100-bar avg vol: 4.03 bn)
Value: RM2.26 bn (100-bar avg val: RM3.41 bn)
Market Breadth: ⬆️490 ⬇️497
Crude palm oil: RM4,600 (+RM71)

Dow Futures: 42,584 pts (-22 pts)

**Source: Bloomberg, M+ **

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