Bursa Malaysia ends higher
KUALA LUMPUR: After encountering a huge fall earlier in the day in a knee-jerk reaction towards a shocking election outcome, Bursa Malaysia rebounded to end higher yesterday on buying support amid higher oil prices.
At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) went up 3.91 points to 1,850.42 from last week’s Tuesday’s close of 1,846.51.
The index opened 32.06 points lower at 1,814.45 and moved between 1,797.14 and 1,876.62 throughout the day.
The market lost almost 50 points after the opening before rebounding thereafter on buying support mostly from local funds.
Meanwhile, Sunway University Business School’s Professor of Economics Prof Yeah Kim Leng said investors expected that the current level of oil price at US$79.96 per barrel, a level considered high, would give an advantage to the current government.
“Investors opined that the global Brent crude oil price would give greater flexibility to the new government in managing the public coffers,” he told Bernama.
Among heavyweights, Maybank gained one sen to RM10.80, Public Bank chalked up 92 sen to RM24.80 and Petronas Chemicals perked 28 sen to RM8.70.
TNB lost six sen to RM16 and CIMB fell 35 sen to RM6.55.
For actives, Sapura Energy rose 17.5 sen to 84.5 sen, Eden climbed 29 sen to 46 sen, Sumatec added 1.5 sen to 5.5 sen, Berjaya Corp gained 8.5 sen to 39 sen and Hibiscus went up 6.5 sen to 93 sen.
Market breadth was positive with gainers outpacing losers 930 to 405, with 180 counters unchanged, 364 counters untraded and 29 others suspended.
Volume swelled to 6.58 billion units valued at RM7.31 billion from 2.35 billion units valued at RM2.80 billion last Tuesday.
The FBM Emas Index rose 4.66 points to 12,890.37 and the FBM Ace surged 309.99 points to 5,522.32.
The FBMT 100 Index decreased 12.32 points to 12,686.12, the FBM Emas Shariah Index shed 65.80 points to 13,009.56 and the FBM 70 was 149.30 points lower at 15,153.96.
Sector-wise, the Finance Index soared 100.301 points to 18,190.89, the Industrial Index perked 71.64 points to 3,268.19 and the Plantation Index went up 56.36 points to 7,906.08.
Main Market volume increased to 4.59 billion shares valued at RM6.98 billion from 1.32 billion shares valued at RM2.60 billion last Tuesday.
Warrants volume expanded to 1.28 billion units worth RM165.53 million from 645.32 million units worth RM119.44 million previously.
Volume on the ACE Market surged to 696.72 million shares worth RM159.43 million from 374.34 million shares worth RM81.06 million recorded in the last trading day last week.
Consumer products accounted for 73.46 million shares traded on the Main Market, industrial products (701.61 million), construction ( 440.62 million), trade and services (2.36 billion), technology ( 190.98 million), infrastructure (28.35 million), SPAC ( 4.86 million), finance ( 248.3 million), hotels ( 11.32 million), properties (394.18 million), plantations (132.99 million), mining (180,700), REITs (6.73 million), and closed/fund (41,800).