Positive sentiment drives Bursa Malaysia higher

KUALA LUMPUR: Bursa Malaysia closed firmer for the second consecutive day, in tandem with the uptrend in regional bourses, prompted by the easing trade tension between the US and China which spurred investors risk appetite, a dealer said.

The FTSE Bursa Malaysia KLCI ( FBM KLCI) finished 12.73 points better at 1,676 on buying support for indexlinked counters especial ly for Maybank, Axiata, CIMB, Petronas Dagangan and Hong Leong Bank.

The barometer index moved between 1,670.12 and 1,677.91 throughout the day

There were 371 gainers and 397 losers while 381 counters remained unchanged, 765 untraded and 38 others were suspended.

Total volume decreased to 1.57 billion units, worth RM1.65 billion, from 2.07 billion units, valued at RM1.94 billion, recorded Wednesday.

A dealer said Asian markets extended Wednesday’s rally, taking the cue from positive developments over the trade dispute between world’s two largest economies.

It was reported that Chinese state- owned companies have bought more than 1.5 million tonnes of US soybean in the first major US soybean purchase in more than six months.

“This upbeat development proves that China is committed to support its cooling economy,” he told Bernama.

Among heav ywei ght s , Maybank rose 15 sen to RM9.44, Public Bank gained eight sen to RM24.98, CIMB bagged nine sen to RM5.84 but Tenaga shed four sen to RM13.46.

However, Petronas Chemicals and IHH Healthcare were f lat at RM9.17 and RM5.60, respectively.

Of actives, Bumi Armada inched up half- a- sen to 18 sen, MyEG perked 8.5 sen to 92.5 sen but Sanichi shed two sen to eight sen.

The FBM Emas Index edged up 72.13 points to 11,507.99, the FBMT 100 Index advanced 76.85 points to 11,403.74, the FBM 70 rose 51.07 points to 13,257.36 and the FBM Emas Shariah Index bagged 48.56 points to 11,455.17.

However, the FBM Ace Index fell 72 points to 4,460.75.

Sector- wise, the Financial Services Index soared 176.1 points to 17,465.79, the Plantation Index increased 38.06 points to 6,698.54 and the Industrial Products and Services Index added 0.59 of- a-point to 167.78. Main Market volume narrowed to 1.02 billion shares, worth RM1.53 billion, from 1.41 billion shares, valued at RM1.81 billion, recorded on Wednesday.

Warrants turnover decreased to 362 .52 mil l ion unit s , worth RM87.82 million, from yesterday’s 390.18 million units, valued at RM84.56 million.

Volume on the ACE Market dwindled to 183.29 million shares, worth RM26.97 million, compared with 267.68 million shares, valued at RM38.93 mil l ion , regi s t ered on Wednesday.

Consumer products and services accounted for 1.22 million shares traded on the Main Market, industrial products and services (144.45 billion), construction ( 56.38 million), technology ( 165.63 million), SPAC ( 3.24 million), financial services ( 2 8.35 mil l ion) , property ( 63 .32 mil l ion) , plantations ( 26.09 million), REITs ( 7.79 million), closed/ fund ( 13,700), energy ( 239.92 mi l lion), healthcare ( 34.49 million), telecommunication and media ( 47.79 mi l lion), transportation and logistics ( 57.88 million), and utilities ( 20.65 million).

For further information on stocks and pric e s , please v i s i t www. bursamalaysia.com.