KUALA LUMPUR, Feb 18 — Bursa Malaysia closed at a seven-week high today on improved buying sentiment and driven by better-than-expected 2015 economic growth data for the country.

The performance was also in line with that of regional markets and amid the recovery in oil prices.   

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended broadly higher by 15.7 points at 1,680.02, compared with yesterday’s close of 1,664.32.

The index, which hovered between 1,665.80 and 1,685.65 today, had opened 1.48 points better at 1,665.80 at 9am.

Affin Hwang Investment Bank Vice-President and Retail Research Head Datuk Dr Nazri Khan Adam Khan said Malaysia had registered resilient economic growth of 5.0 per cent, which partially contributed to the positive market sentiment. 

Malaysia’s economy grew 4.5 per cent in the final quarter of 2015, bringing the full year gross domestic product growth to 5.0 per cent as against 6.0 per cent in 2014.

“We have strong gains for oil and Wall Street’s strong overnight performance also boosted the overall market sentiment today,” he told Bernama.

Brent Crude rose 0.43 per cent to US$34.65 (RM144) a barrel as Iran backed joint efforts by Russia and Saudia Arabia to stabilise crude prices.

Market breadth was positive with gainers trouncing losers 545 to 302 with 346 counters unchanged, 553 counters untraded and 18 others suspended.

Total volume fell to 1.67 billion shares worth RM2.10 billion from 1.75 billion shares worth RM1.62 billion yesterday.   

Among heavyweights, Maybank rose eight sen to RM8.64, Public Bank advanced 12 sen to RM18.26, Petronas Chemicals appreciated seven sen to RM7.03, IHH Healthcare gained five sen to RM6.53, while TNB was flat at RM13.22.

For the top gainers, Kuala Lumpur Kepong surged 50 sen to RM24.16, Genting soared 40 sen to RM8.19, Lafarge improved 31 sen to RM9.29, while Sime Darby and Sarawak Oil Palms increased 23 sen each to RM8 and RM4.50 respectively.

Of the actives, Xidelang edged up half-a-sen to six sen, JAG and XOX were flat at 13 sen and 16 sen, while APFT inched down half-a-sen to 19.5 sen.                       

On the regional markets, Japan’s Nikkei 225 appreciated 2.28 per cent to 16,196.80, Hong Kong’s Hang Seng advanced 2.32 per cent to 19,363.08 and Singapore’s Straits Times was up 1.66 per cent to 2,657.18.        

The FBM Emas Index appreciated by 103.93 points to 11,653.05, the FBM Emas Shariah Index increased 119.44 points to 12,486.42 and the FBM Ace rose by 10.96 points to 5,782.48. 

The FBM 70 strengthened 104.44 points to 12,899.94 and the FBMT100 Index advanced 102.73 points to 11,356.75.               

Sector-wise, the Plantation Index was up by 54.65 points to 7,990.46, the Industrial Index added 42.35 points to 3,307.66 and the Finance Index expanded 70.10 points to 14,022.75.

Main Market volume was slightly higher at 1.19 billion units valued at RM2.004 billion from 1.13 billion units valued at RM1.50 billion yesterday.

Turnover on the ACE Market fell to 261.51 million shares worth RM51.28 million from 417.13 million shares worth RM83.13 million.

Warrants went up to 223.61 million units valued at RM44.64 million from 209.0 million units valued at RM39.09 million.

Consumer products accounted for 185.27 million shares traded on the Main Market, industrial products (164.93 million), construction (135.19 million), trade and services (432.97 million), technology (15.09 million), infrastructure (13.05 million), SPAC (30.56 million), finance (33.89 million), hotels (584,300), properties (130.22 million), plantations (34.64 million), mining (10,000), REITs (12,52 million) and closed/fund (10,400). — Bernama