KUALA LUMPUR, Nov 16 — Bursa Malaysia joined most of its Asian peers to end the week on a high note, supported by positive sentiment on regional markets and amid gains in the US dollar.

At the closing bell, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 12.17 points or 0.71 per cent higher at 1,706.38 from Thursday’s close of 1,694.21.

Rakuten Trade Sdn Bhd Head of Research Kenny Yee said judging from the recent gains on regional bourses, investors had realigned their portfolios.

“Foreign funds are positively returning to the Asian markets, including Bursa Malaysia.

“The stronger greenback against regional currencies, including the ringgit, has prompted more overseas investors to acquire local value stocks at more affordable prices,” he told Bernama.

The index opened 11.60 points stronger at 1,705.81 today and moved between 1,701.92 and 1,708.96 throughout the day.

Market breadth remained positive with gainers leading losers 450 to 345, with 390 counters unchanged, 696 untraded and 20 others suspended.

Volume, however, fell to 1.84 billion units worth RM1.88 billion from 1.98 billion units worth RM1.88 billion yesterday.

Asked if the slower third quarter (3Q) gross domestic product (GDP) growth had affected the local equity market, Yee did not see that, as market participants had expected slower economic growth for this year.

“Similarly, expectations of slower corporate earnings results in 3Q is also unlikely to have any implications on Bursa Malaysia, as investors have also anticipated this.

“They are more looking forward to growth for 2019,” he added.

Bank Negara Malaysia (BNM) today announced that Malaysia’s GDP grew by 4.4 per cent for 3Q 2018 compared with 6.2 per cent in the same period last year, driven by strong private consumption following the zerorisation of the Goods and Services Tax (GST) during the quarter.

According to BNM Governor Datuk Nor Shamsiah Mohd Yunus, the country’s GDP rose by 4.7 per cent in the first three quarters, and was on track to register a 4.8 per cent growth in 2018.

Among heavyweights, Maybank rose seven sen to RM9.45, Public Bank advanced 12 sen to RM24.62, Tenaga gained eight sen to RM14.90,  CIMB increased six sen to RM5.65, while Petronas Chemicals was unchanged at RM9.40.

Of actives, Hibiscus advanced one sen to RM1.07, but Permaju, Sapura and MyEG lost half-a-sen each to 35 sen, 36 sen and RM1.13 respectively, while Prestariang was six sen easier at 62.5 sen.

Nestle was the top gainer in gaining RM2.60 to RM147.00, followed by Apex Healthcare which bagged 43 sen to RM8.53, F&N improving 40 sen to RM33.40, as Hong Leong Financial rose 38 sen to RM19.38 and Petron Malaysia was up 28 sen to RM7.41.

The FBM Emas Index climbed 93.23 points at 11,868.06, the FBMT 100 Index gained 95.21 points to 11,707.35 and the FBM 70 surged 158.98 points to 13,988.70.

The FBM Emas Shariah Index strengthened 87.52 points to 11,955.80 and the FBM Ace Index was 0.66 of-a-point better at 4,945.12.

Sector-wise, the Finance Index soared 100.15 points to 17,301.67, the Industrial Products and Services Index edged up 0.90 of-a-point to 174.01 and the Plantation Index was 21.02 points firmer at 7,256.64.

Main Market volume narrowed to 1.15 billion shares worth RM1.71 billion from 1.26 million shares worth RM1.68 billion on Thursday.

Warrants turnover slid to 381.46 million units valued at RM98.67 million versus 415.92 million units valued at RM111.73 million.

Volume on the ACE Market, however, widened to 309.81 million shares worth RM75.83 million compared with 305.68 million shares worth RM84.75 million.

Consumer products and services accounted for 203.51 million shares traded on the Main Market, industrial products and services (256.70 million), construction (38.81 million), technology (192.85 million), SPAC (365,800), financial services (52.73 million), property (66.17 million), plantations (26.12 million), REITs (5.91 million), closed/fund (nil), energy (202.59 million), healthcare (29.06 million), telecommunication and media (52.41 million), transportation and logistics (16.53 million) and utilities (13.20 million). — Bernama