Bursa recoups earlier losses to end at intra-day high

KUALA LUMPUR: Bursa Malaysia reversed earlier losses to finish the day at its intra-day high, tracking the better performance of its regional counterparts.

At 5pm, the FTSE Bursa Malaysia KLCI ( FBM KLCI) breached the resistance level of 1,700 to end at 1,701.99, up 6.11 points or 0.36 per cent, from last Friday’s close of 1,695.88.

The index opened 2.84 points easier at 1,693.04 and moved between 1,688.45 and 1,701.99 throughout the day.

Volume increased to 1.74 billion units worth RM1.41 billion from 1.58 billion units worth RM1.10 billion last Friday.

Market breadth, however, was negative, with losers thumping gainers 418 to 343, while 428 counters were unchanged, 725 untraded and 20 others suspended.

A dealer said the local sentiment was lifted by gains on key Asian bourses backed by hopes of solid US holiday sales.

Regionally, Singapore’s Straits Times Index rose 1.34 per cent to 3,093.38, Japan’s Nikkei improved 0.76 per cent to 21,812.00 and Hong Kong’s Hang Seng Index was 1.73 per cent better at 26,376.18.

However, he said investors remained cautious ahead of the meeting between the US President Donald Trump and his Chinese counterpart, Xi Jinping, on the sidelines of the G20 summit to be held from Nov 30 to Dec 1 in Argentina.

“Investors hope the talks could soothe the trade tensions between the two economic giants, so many of them are still taking the wait-and-see approach at this juncture,” he said, adding that the weaker crude oil prices also limited investors’ risk appetite.

Among heavyweights, Maybank added three sen to RM9.45, Public Bank rose 14 sen to RM24.94, Tenaga bagged six sen to RM14.86, Petronas Chemicals was four sen firmer at RM9.26 and CIMB rose five sen to RM5.68.

For active stocks, Orion and MyEG lost one sen each to 10.5 sen and RM1.11, Datasonic perked 6.5 sen to 49 sen, while Hibiscus and Seacera were unchanged at RM1.02 and 20.5 sen, respectively.

The FBM Emas Index increased 28.43 points to 11,807.32, the FBMT 100 Index advanced 31.14 points to 11,660.76, the FBM Emas Shariah Index was 17.64 points higher at 11,853.46 and the FBM Ace Index gained 34.50 points to 4,974.69.

The FBM 70 declined 4.54 points to 13,869.41.

Sector-wise, the Finance Index climbed 42.89 points to 17,357.48, the Industrial Products and Services Index was 0.18 of- apoint better at 172.64 while the Plantation Index dipped 104.58 points to 7,077.57.

Main Market volume jumped to 1.09 billion shares worth RM1.26 billion from 947.74 million shares worth RM977.02 million last Friday.

Warrants turnover swelled to 354.74 million units valued at RM87.20 million versus 290.68 million units valued at RM68.38 million previously.

Volume on the ACE Market, however, shrank to 291.64 million shares worth RM54.09 million compared with 338.11 million shares worth RM58.20 million last Friday.

Consumer products and services accounted for 135.55 million shares traded on the Main Market, industrial products and services ( 205.06 million), construction (133.20 million), technology (198.96 million), SPAC (49,000), financial services (26.35 million), property (69.06 million), plantations (20.77 million), REITs ( 3.26 million), closed/fund (4,000), energy (181.09 million),healthcare(14.99million), telecommunication and media (71.83 million), transportation and logistics (17.40 million), and utilities (20.36 million).

For further information on stocks and prices , please vi s i t www. bursamalaysia. com.