KL shares ends higher

KUALA LUMPUR: Bursa Malaysia ended 0.62 per cent higher with the broader market posting gains on improved domestic and global market sentiment against the backdrop of subsiding concerns over the US-China trade dispute.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 11.16 points to 1,803.76 from 1,792.6 at the close previously.

After opening opening 2.04 points lower at 1,790.56 yesterday, the index moved between 1,789.60 and 1,804.89 throughout the day.

On the broader market, gainers led losers 589 to 302, with 383 counters unchanged, 613un traded and 22 others suspended.

Volume was slightly lower at 2.68 billion units worth RM2.48 billion from Thursday’s 2.37 billion units worth RM2.57 billion.

The market was closed on Monday and Tuesday due to public holidays. It will be closed again on Sept 17 (Monday) for the Malaysia Day Holiday.

Malaysian Association of Technical Analysts president Nik Ihsan Raja Abdullah said concerns over global trade had slowly subsided and the positive market sentiment had clearly driven the market.

“This latest update on US China trade boosted domestic sentiment and we can see quite a recovery in the broader market, second liners, as well as the third liners.

“This comes after a steep drop in the market globally due to fears of additional tariffs being imposed by the Trump administration,” he told Bernama.

It was reported that the United States had requested a meeting with China on trade, sending a positive signal to the market.

Of the heavyweights, Maybank and PBBank both added two sen to RM9.90 and RM24.94 respectively, PChem gained three sen to RM9.46, CIMB rose 14 sen to RM6.23 and Tenaga was flat at RM15.80.

Among actives, SapNRG gained one sen to RM45.5 sen, MyEG advanced seven sen to RM1.64, QES and Hibiscus were both up 1.5 sen each to 30 sen and 99 sen respectively, while PWorth and Velesto were one sen better at five sen and 27.5 sen.

The FBM Emas Index rose 86.13 points to 12,565.0, the FBMT 100 Index increased 81.76 points to 12,386.98, the FBM 70 advanced 117.32 points to 14,844.57, the FBM Ace Index went up 78.17 points to 5,177.24 and the FBM Emas Shariah Index improved 101.31 points to 12,666.80.

Sector-wise, the Finance Index rose 113.43 points to 17,923.44, the Plantation Index rose 62.31 points to 7,551.86, while the Industrial Index gained 3.53 points to 3,204.36. Main Market volume increased to 1.78 billion shares worth RM2.28 billion from Thursday’s 1.57 billion shares worth RM2.39 billion.

Warrants turnover fell to 478.95 million units worth RM121.50 million from 494.05 million units worth RM122.28 million.

Volume on the ACE Market improved to 423.34 million units shares worth RM86.15 million from Thursday’s 304.74 million shares worth RM56.53 million.

For further information on stocks and prices, please visit www. bursamalaysia.com.