Bursa Malaysia ends higher, buoyed by Budget 2027

Bursa Malaysia closed at a higher level on October 9, driven by optimism surrounding the upcoming Budget 2027 and increased buying activity. The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 7.44 points, or 0.47%, to close at 1,608.45, up from the previous day's 1,601.01. The index opened 1.93 points higher at 1,602.94 and fluctuated between 1,600.55 and 1,609.94 throughout the trading day.

Gainers outnumbered losers 627 to 450, with 547 counters remaining unchanged, 1,204 untraded, and 13 suspended. Turnover fell to 3.33 billion units, valued at RM2.90 billion, compared to the previous day's 3.51 billion units worth RM3.46 billion. Companies such as YTL Power International, 99 Speed Mart Retail, and Press Metal Aluminium each rose by 11 sen, contributing to a 5.45-point increase in the composite index.

Thong Pak Leng, YTL Power International's vice-president of equity research, noted that Budget 2027 could provide fresh catalysts for domestic consumption, infrastructure, and growth sectors. Despite foreign selling continuing as a concern, domestic institutional support and resilient economic fundamentals should help mitigate downside risks.

Among noteworthy performances, Gamuda rose 14 sen to RM5.09, Hong Leong Bank gained 38 sen to RM21.48, and Sunway Bhd increased by nine sen to RM4.40. Notable decliners included Top Glove, which dropped three sen to 84.5 sen. Sector-wise, the Industrial Products and Services Index rose 1.92 points to 180.75, while the Financial Services Index climbed 46.37 points to 18,424.82.