Key index up slightly
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