KL shares end higher in sync with regional stocks

KUALA LUMPUR: Bursa Malaysia closed higher yesterday, tracking gains on the regional markets ahead of the mid-term review of the 11th Malaysia Plan (11MP), which will be tabled in Parliament tomorrow.

The benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) increased 3.75 points to 1,740.59 against Tuesday’s close of 1,736.84.

The index opened 4.69 points stronger at 1,741.53 and moved between 1,737.29 and 1,742.8 throughout the day.

A dealer said Asian equities rose after upbeat US earnings reports drove a rebound on the Wall Street and helped restore investors’ confidence in emerging market stocks and currencies.

He said investors also awaited the 11MP mid- term review to seek further indication on the government policies and direction in terms of improving Malaysia’s economy over the next few years.

“The Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali previously said that the mid- term review would focus on restoring investors’ confidence,” he said.

Regionally, Japan’s Nikkei 225 edged-up 1.29 per cent to 22,841.12, China’s Shanghai Composite Index increased 0.6 per cent to 2,561 and Korean Kospi Index added 1.04 per cent to 2,167.51.

Market breadth was positive with gainers leading losers 538 to 275, with 363 counters unchanged, 722 untraded and 27 others suspended.

Volume was higher at 2.02 billion units valued at RM2.08 billion versus Tuesday’s 1.52 billion units valued at RM1.61 billion.

Among Bursa Malaysia’s heavyweights, Maybank and Petronas Chemicals added four sen each to RM9.59 and RM9.44, respectively.

Public Bank and CIMB were f lat at RM24.98 and RM6.03, respectively. TNB lost two sen to RM14.60. As for actives, MRCB perked 7.5 sen to 79.5 sen and Hibiscus Petroleum added three sen to RM1.28.

Tiger Synergy slipped halfasen to 6.5 sen and Barakah Offshore lost two sen to 10.5 sen, while Borneo Oil was flat at 5.5 sen.

The FBM Emas Index strengthened 39.729 points to 12,048.68, the FBM Emas Shariah Index expanded 46.91 points to 12,070.88 and the FBMT 100 Index increased 29.62 points to 11,871.58.

The FBM Ace Index jumped 64.47 points to 5,056.86 and the FBM 70 improved 50.46 points to 13,912.4.

Sector-wise, the Plantation Index was 25.04 points higher at 7,426 and the Industrial Products and Services Index added 0.71 point to 172.92 while the Financial Services Index eased 13.779 points to 17,575.66.

Main Market volume expanded to 1.62 billion shares worth RM1.98 billion from Tuesday’s 946.76 million shares worth RM1.5 billion.

Warrants turnover fell to 205.37 million units valued at RM27.64 million from yesterday’s 331.51 million units valued at RM68.96 million.

Volume on the ACE Market increased to 294 million shares worth RM63.67 million from 247.95 million shares worth RM43.56 million previously.

Consumer products and services accounted for 179.58 mil lion shares traded on the Main Market, industrial products and services ( 345.4 million), construction (412.05 million), technology ( 129.58 mil l ion), SPAC ( 109,0 0 0) , financial services (45.74 million), property ( 258.7 mi l l ion) , plantations ( 32.02 million), REITs ( 2.46 million), closed/ fund ( 1,000), energy ( 282.87 mil lion), healthcare ( 25.48 million), telecommunication and media ( 26.33 mi l lion), transportation and logistics ( 12.83 million) and utilities (42.82 million).

For further information on stocks and pric e s , please visit www. bursamalaysia.com.