BURSA Malaysia settled higher yesterday for the second consecutive day on continued buying momentum in most heavyweight counters, dealers said. The FBM KLCI rose by 13.23 points to 1,663.82. Overall, gainers led losers by 438 to 323, while 348 counters were unchanged, 563 untraded and 18 suspended.
Of the heavyweights, Maybank surged 12 sen to RM7.95, CIMB Group firmed 11 sen to RM4.86, Sime Darby earned 7 sen to RM8.31, TNB was flat at RM14.32 while PetGas declined 4 sen to RM22.02.
A dealer said the local bourse and its regional peers tracked the overnight strength in the US stock market after the Federal Bureau of Investigation cleared Hillary Clinton of criminal wrongdoing in the email controversy.
“Most investors are waiting for the US presidential election outcome. They are cautiously optimistic of a win by Democrat Clinton as she is seen to offer better certainty and stability for the country’s economy,” the dealer said.
However, Alliance DBS Research in a note said the traders were still worried about an unexpected election win by Donald Trump which would likely lead to a market selldown due to policy uncertainties.
Back home, Bursa Malaysia traded higher following global rating firm S&P’s affirmation of Malaysia’s sovereign ratings with a stable outlook based on the country’s strong external position and high monetary flexibility with its relatively weaker but stable public finances. – Bernama