KUALA LUMPUR: Bursa Malaysia closed higher on Friday, lifted by a rally in banking stocks as sentiment improved after softer-than-expected US jobs data.
IPPFA Sdn Bhd director of investment strategy and country economist Sedek Jantan said the recovery in heavyweight financial counters provided the main support for the benchmark index.
Overall, the market reflected stronger risk appetite as concerns over further US monetary tightening eased.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 17.22 points to 1,679.05 from Thursday’s close of 1,661.83.
The benchmark index opened 3.90 points higher at 1,665.73 and moved between 1,662.91 and 1,682.62 throughout the session.
The market breadth was positive, with gainers trouncing decliners 633 to 372, while 533 counters were unchanged, 1,112 untraded, and 12 suspended.
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