KL shares close higher on consistent buying

KUALA LUMPUR: Shares on Bursa Malaysia closed higher on consistent buying support in heavyweights on firmer oil prices and strengthening ringgit, dealers said.

The benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) finished 5.93 points higher at 1,636.46 after opening 3.22 points higher at 1,633.75.

The index fluctuated between 1,632.14 and 1,638.57 throughout the day.

A dealer said that the bullish trade data for April 2016 announced earlier yesterday had boosted confidence among investors.

The dealer said the decision on output from the Organisation of the Petroleum Exporting Countries’ (OPEC) meeting in Vienna was within expectation and this had also provided little support to the index.

According to a report, the meeting which ended Thursday failed to reach any agreement on a clear oil-output strategy as Iran insisted on raising production to regain market share lost during years of sanctions, which were lifted in January.

The FBM Emas Index added 45.58 points to 11,461.51, the FBMT100 Index gained 45.13 points to 11,154.04 and the FBM Emas Shariah Index was 44.85 points better at 11,983.30.

The FBM 70 rose 69.27 points to 12,999 while the FBM Ace declined 21.47 points to 5,495.06.

The Finance Index jumped 56.33 points to 14,277.28, the Plantation Index increased 30.32 points to 7,480.58 but the Industrial Index shed 14.70 points to 3,083.26.

Market breadth was positive as gainers led losers 402 to 342 with 366 counters unchanged, 601 untraded and 15 others suspended.

Volume slipped to 1.30 billion units worth RM1.45 billion, from 1.75 billion units worth RM1.84 billion recorded on Thursday.

Among heavyweights, Maybank, TNB and Petronas Chemicals were flat at RM8.27, RM14 and RM6.50, respectively, while Public Bank gained eight sen to RM19.12.

Among actives, Salutica rose seven sen to 90.5 sen, AirAsia gained two sen to RM2.47, DGB Asia was flat at 6.5 sen, while Tiger Synergy eased half-a-sen at five sen.

Main Market turnover fell to 775.82 million shares worth RM1.34 billion, from Thursday’s 987.89 million shares worth RM1.73 billion.

ACE Market volume declined to 378.92 million shares valued at RM86.01 million, from 569.73 million shares valued at RM87.95 million.

Warrants decreased to 105.08 million units worth RM18.62 million, from 163.33 million units valued at RM23.26 million previously.

Consumer products accounted for 85.78 million shares traded on the Main Market, industrial products ( 155.75 million), construction ( 46.31 million), trade and services ( 287.85 million), technology ( 19.09 million), infrastructure (11.45 million), SPAC (7.18 million), finance (30.53 million), hotels (1.83 million), properties (110.36 million), plantations ( 16.12 million), mining (4,000), REITs (3.48 million) and closed/fund (84,000). — Bernama