Petronas-linked stocks fuel key in­dex’s ad­vance

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia fin­ished higher yes­ter­day, sup­ported by buy­ing in­ter­est in se­lected key heavy­weights, mainly Petronas-linked stocks.

The FBM KLCI set­tled at 1,880.49, up 1.73 points. The key in­dex, de­spite a weak open­ing and cau­tious trad­ing, moved to as high as 1,885.12 in the morn­ing ses­sion.

Over­all, there were 506 losers and 424 gain­ers, with 394 coun­ters un­changed and 581 un­traded and 27 sus­pended.

Petronas Gas rise rose 54 sen to RM18.54, Pet­tronas Da­gan­gan in­creased 70 sen to RM26.78 and Petronas Chem­i­cals added six sen to RM8.51.

In­ter-Pa­cific Se­cu­ri­ties Sdn Bhd head of re­search Pong Teng Siew said the mar­ket was cau­tious fol­low­ing Bursa Malaysia’s in­tro­duc­tion of in­tra-day short sell­ing (IDSS) on Mon­day as part of the ex­change’s strat­egy to boost mar­ket liq­uid­ity.

“Apart from that, we also see profit-tak­ing in the broader mar­ket, in­clud­ing the sell­ing of small-cap­i­talised stocks, as they are heav­ily in­volved in the IDSS, hence there are more downs than ups,” he told Ber­nama.

Among the heavy­weights, May­bank gained 2 sen to RM10.62 and CIMB perked 6 sen to RM7.30. Pub­lic Bank lost 6 sen to RM23.98. Te­naga Na­sional was flat at RM15.94.

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