Bursa Malaysia ends higher on bargain hunting

KUALA LUMPUR: Bursa Malaysia erased earlier losses to close higher yesterday, as bargain hunters triumphed over profit takers, against the backdrop of steady regional markets.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI ( FBM KLCI) rose 4.50 points to end at its intraday high of 1,730.68 against Wednesday’s close of 1,726.18.

After opening 3.81 points weaker at 1,722.37 today, the FBM KLCI also touched a low of 1,719.67.

A dealer said regional market sentiment was positive given signs of progress in the trade talks between China and the United States.

“The MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent and this momentum was also seen on the local stock market.

“Furthermore, buying sentiment was boosted by news of higher oil prices, with the international benchmark Brent crude futures up 0.2 per cent to US$67.20 per barrel and the US West Texas Intermediate (WTI) crude oil futures 0.4 per cent higher at US$57.39 per barrel,” he added.

Among local heavyweights, Maybank rose one sen to RM9.53, Public Bank eased six sen to RM25, Tenaga gained 12 sen to RM13.50 and Petronas Chemicals lost 10 sen to RM9.05.

Of actives, Sapura Energy was flat at 32.5 sen, Bumi Armada declined two sen to 20.5 sen and Iskandar Waterfront was 10.5 sen better at 59 sen.

Market breadth was positive with 509 gainers and 398 losers, while 399 counters remained unchanged, 548 untraded and 20 others suspended.

Total volume declined to 3.71 billion units valued at RM3 billion from 3.82 billion units valued at RM3.26 billion transacted previously.

The FBM Emas Index increased 43.14 points to 12,083.93, the FBMT 100 Index rose 40.96 points to 11,938.47 and the FBM Emas Shariah Index garnered 21.13 points to 12,062.58.

The FBM 70 rose 90.84 points to 14,577.22 and the FBM Ace Index increased 71.51 points to 4,771.20.

Sector- wise, the Financial Services Index added 69.68 points to 17,853.41, the Plantation Index fell 46.08 points to 7,452.48 and the Industrial Products and Services Index eased 0.03 of- a- point to 168.46.

Main Market volume was lower at 2.54 billion shares valued at RM2.73 billion from 2.78 billion shares valued at RM3.03 billion on Wednesday.

Warrants’ turnover fell to 699.79 million units worth RM161.72 million from 741.67 million units worth RM162.26 million previously.

Volume on the ACE Market increased to 463.53 million shares worth RM100 million from 295.17 million shares worth RM68.74 million.

Consumer products and services accounted for 290.70 million shares traded on the Main Market, industrial products and services ( 334.54 million), construction ( 354.36 million), technology ( 172.13 million), SPAC (nil), financial services (73.68 million), property (234.51 million), plantations ( 70.19 million), REITs (7.89 million), closed/ fund ( 63,200), energy (857.97 million), healthcare (42.33 million), telecommunications and media ( 47.74 million), transportation and logistics (30 million), and utilities (29.04 million).

For further information on stocks and prices, please visit www.bursamalaysia.com.