Key in­dex up slightly

The Sun (Malaysia) - - SPEAK UP -

BURSA Malaysia closed higher yes­ter­day, con­tin­u­ing its pos­i­tive mo­men­tum from last Fri­day, in line with re­gional mar­kets, deal­ers said.

The FBM KLCI fin­ished at 1,650.59, up 2.35 points. The com­pos­ite in­dex moved be­tween 1,643.07 and 1,654.34 dur­ing the day.

On the broader mar­ket, losers led gain­ers 388 to 366 with 379 coun­ters un­changed, 536 un­traded and 18 others sus­pended.

Among the heavy­weights, May­bank rose 16 sen to RM7.83, Pub­lic Bank and Petronas Chem­i­cals lost 2 sen each to RM19.78 and RM6.94, re­spec­tively, while Gent­ing gained 19 sen to RM7.99.

TNB shares rose 2 sen to RM14.32 after the com­pany com­pleted its ac­qui­si­tion of a 30% stake in In­dian power com­pany GMR En­ergy Ltd for RM1.3 bil­lion.

A dealer said mar­ket sen­ti­ment was pos­i­tive after S&P Global Rat­ings af­firmed its ‘A-’ long-term and ‘A-2’ short-term for­eign cur­rency sov­er­eign credit rat­ing on Malaysia. This was due to the coun­try’s strong ex­ter­nal po­si­tion and con­sid­er­able mon­e­tary pol­icy flex­i­bil­ity.

An­other dealer said most re­gional bourses were higher due to a re­bound in oil prices as Or­gan­i­sa­tion of the Pe­tro­leum Ex­port­ing Coun­tries mem­bers were com­mit­ted to a deal made in Septem­ber to trim out­put. How­ever, the dealer said the in­vestors would keep a close eye on to­day’s US pres­i­den­tial elec­tion for more clues over the mar­ket di­rec­tion. – Ber­nama

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