Bursa inches higher on positive sentiment
BURSA Malaysia closed higher yesterday amid positive market sentiment on news United States President Donald Trump and Chinese President Xi Jinping are scheduled to meet at the G20 summit in Japan on June 28-29.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.89 points, or 0.53 per cent, to end at 1,675.43, compared with Wednesday’s close of 1,666.54.
The index opened 5.71 points weaker at 1,660.83 in the morning and hovered between 1,660.83 and 1,675.43 throughout the day.
Market breadth was positive with gainers trumping losers 468 to 353, while 380 counters were unchanged, 677 untraded and 21 others suspended.
However, turnover decreased to 2.27 billion units worth RM2.28 billion against 2.42 billion units valued at RM2.34 billion on Wednesday.
Genting and Genting Malaysia shares move up on news the chief executive officer was taking a 20 per cent pay cut. Genting rose 23 sen to RM6.91 while Genting Malaysia added four sen to RM3.38.
However, shares of plantationsrelated companies were lower due to weak crude palm oil price.
KLK fell two sen to RM24.58, Sime Darby Plantation erased 22 sen to RM4.78 and IOI Corp was four sen easier at RM4.33.
Among heavyweights, Maybank was flat at RM8.94, Public Bank fell two sen to RM23.08 while Tenaga improved 60 sen to RM13.88.
As for the active stocks, Greatech added 9.5 sen to RM1.06, Iskandar Waterfront inched down six sen to RM1.04 and Mestron Holdings fell half-a-sen to 15.5 sen.
The FBM Emas Index appreciated 87.57 points to 11,786.28, the FBMT 100 Index increased 87.33 points to 11,640.53 and the FBM Emas Shariah Index soared 124.10 points to 12,132.76.
The FBM 70 jumped 212.72 points to 14,553.60 and the FBM ACE went up 38.61 points to 4,361.92.
Main Market volume depreciated to 1.36 billion shares valued at RM2 billion from 1.52 billion shares worth RM2.10 billion recorded on Wednesday.
Warrants turnover fell to 540.16 million units valued at RM110.51 million versus 592.46 million units worth RM135.87 million.
Volume on the ACE Market increased to 362.92 million shares valued at RM58.17 million against 308.13 million shares worth RM96.69 million.
The FBM KLCI futures contract on Bursa Malaysia Derivatives closed higher in line with the better performance of the underlying cash market.
July 2019 and December 2019 rose 6.5 points each to 1,676 and 1,666, respectively, June 2019 added five points to 1,673.50 and September 2019 added seven points to 1,669.50.
Turnover, however, decreased to 6,616 lots from 8,578 lots recorded on Wednesday, while open interest narrowed to 33,918 contracts from 35,810 contracts previously.