KUALA LUMPUR, Jan 7 — Bursa Malaysia closed higher today, led by heavyweights TNB and Sime Darby Plantation Bhd coupled with improving sentiment, prompted by the better showing on regional markets, said a dealer.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,679.17, up 9.39 points, versus Friday’s close of 1,669.78.

The barometer index moved between 1,673.03 and 1,687.13 throughout the day, after opening 5.14 points higher at 1,674.92.

Market breadth was positive with 604 gainers and 294 losers while 336 counters were unchanged, 631 untraded and 22 others were suspended.

Total volume was higher at 2.50 billion shares, worth RM1.92 billion, against last Friday’s 2.20 billion shares worth RM1.29 billion.

OANDA head of trading for Asia Pacific Stephen Innes said the steadier local bourse was due to a confluence of factors including a more dovish United States (US) Federal Reserve (Fed), mire stimulus by China to stimulate its economy and a possible thaw in US-China trade war.

“Bursa Malaysia is benefiting from positive risk sentiment and a mire positive outlook for commodity prices. The stronger ringgit is also bolstering local investor confidence,” he told Bernama.

Brent crude jumped 2.05 per cent to US$58.23 a barrel. 

China’s central bank cut the ratio of cash that banks must hold by 100 basis points to reduce the risk of a sharp slowdown of its economy while Fed Chairman Jerome Powell said the central bank would be patient in raising interest rates.

Among heavyweights, TNB surged 48 sen to RM13.94, Sime Darby Plantation jumped 20 sen to RM5, Maybank rose 11 sen to RM9.46, IHH Healthcare increased 12 sen to RM5.56 and Maxis advanced 13 sen to RM5.66.

Meanwhile, Petronas Chemicals declined 33 sen to RM8.93 and Petronas Gas fell 42 sen to RM18. 

Of actives, Ace market debutant, DPI Holdings, rose two sen to 27 sen, AirAsia X went up 4.5 sen to 30.5 sen, Hubline and My E.G. Services both perked half-a-sen to five sen and 95 sen, respectively, while Bumi Armada edged down half-a-sen to 15 sen.  

The FBM Emas Index expanded 86.20 points to 11,499.22, the FBMT 100 Index increased 77.01 points to 11,400.35 and the FBM Emas Shariah Index increased 82.93 points to 11,439.84.

The FBM Ace Index soared 100.19 points to 4,394.62 and the FBM 70 climbed 144.35 points to 13,168.15. 

Sector-wise, the Industrial Products and Services Index eased 1.22 points to 164.41 but the Finance Index appreciated 117.77 points to 17,359.56 while the Plantation Index improved 67.69 points to 6,948.59.

Main Market volume rose to 1.72 billion shares, worth RM1.77 billion, versus 1.52 billion shares, worth RM1.15 billion, traded on Friday.

Warrants’ turnover eased to 356.58 million units, valued at RM70.45 million, from Friday’s 440.04 million units, worth RM98.29 million.

Volume on the ACE Market advanced to 427.01 million shares, worth RM79.54 million, versus 214.34 million shares valued at RM41.09 million.

Consumer products and services accounted for 308.80 million shares traded on the Main Market, industrial products and services (366.70 million), construction (147.44 million), technology (163.09 million), SPAC (264,000), financial services (39.95 million), property (99.74 million), plantations (31.89 million), REITs (7.52 million), closed/fund (6,000), energy (367.79 million), healthcare (43.89 million), telecommunications and media (28.42 million), transportation and logistics (89.53 million), and utilities (21.0 million). — Bernama