Bursa ends mixed, CI rises to almost four-year high

KUALA LUMPUR: Bursa Malaysia closed mixed yesterday with the key index rebounded strongly from an earlier downtrend to close at almost four-year high, lifted by late buying interests in selected blue-chips.

The benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI), after languishing in the negative territory for the better part of the day, finished at 1,873.62, up 3.73 points from yesterday’s close of 1,869.89.

On Sept 9, 2014, the index closed at 1,874.12. The barometer index opened higher yesterday morning but reversed the trend thereafter as the escalating tension over US air strikes against Syria affected trading sentiment.

This resulted in the composite index to record an intra-day low of 1,865.14 in the morning session.

Nevertheless, the oil prices, which rose to their highest levels since late-2014 on concerns over supply coupled with the upbeat US Federal Reserve monetary policy meeting minutes released earlier, helped change the sluggish sentiment, a dealer said.

“With the feel good factor brought in by Chinese trade liberalisation announcement, coupled with this positive news on better US economy prospect the Bursa Malaysia somehow managed to recover the earlier losses,” he told Bernama.

The local bourse also bucked the regional trend, with Singapore’s Straits Times Index declining 0.32 per cent to 3,468.61, Hong Kong’s Hang Seng Index declined 0.22 per cent to 30,831.28 and Japan’s Nikkei lost 0.12 per cent to 21,660.28.

However, there were 579 losers and 343 gainers, with 374 counters were unchanged, 586 untraded and 23 others suspended.

Volume eased to 3.27 billion units worth RM2.34 billion from 4.65 billion units worth RM3.21 billion previously.

Among heavyweights, Public Bank rose eight sen to RM24.04, Tenaga gained four sen to RM15.90, while CIMB was flat at RM7.20.

Maybank declined six sen to RM10.54 and Petronas Chemicals eased three sen to RM8.48.

The most actively-traded stock was Sapura Energy, increased four sen to 68.5 sen, following its plan to develop the SK408 gas field off Sarawak with partners – Petronas Carigali and Sarawak Shell Bhd.

Of the other active stocks, Sino Hua-An gained two sen to to 44 sen, Sumatec inched up half-a-sen to seven sen, while UMW O&G and Borneo Oil were flat at 29.5 sen and eight sen respectively.

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