KUALA LUMPUR, Feb 20 — Bursa Malaysia remained higher at mid-afternoon due to gains in heavyweights as market sentiment was lifted by higher US stock performance and optimism that China and the United States will reach a deal in their trade talks.
At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 17.41 points higher at 1,723.97 against yesterday’s close of 1,706.56, after opening 6.27 points firmer at 1,712.83 today.
Gainers led losers 610 to 255 with 351 counters unchanged, 638 untraded and 20 others suspended.
Turnover stood at 2.37 billion shares worth RM1.68 billion.
A dealer said investors were optimistic that the latest round of trade talks between the two giant economies would lead to a deal to resolve their tariff war.
“This positive sentiment is reflected in the stronger performance of Wall Street and spilled over into Asian stocks, with MSCI's broadest index of Asia-Pacific shares outside Japan up nearly one per cent to reach its highest level since Oct 2, 2018.
“On Wall Street, the S&P 500 index rose 4.16 points to 2,779.76, the Nasdaq Composite increased 14.36 points to 7,486.77 and the Dow Jones Industrial Average was 8.07 points better at 25,891.32,” he added.
Among local heavyweights, Maybank was four sen higher at RM9.52, Public Bank added six sen to RM25.06, Tenaga gained two sen to RM13.34 and Petronas Chemicals increased 25 sen to RM9.15.
Of actives, Sapura Energy inched up 1.5 sen to 32.5 sen, VS Industry gained six sen to 99 sen and Hibiscus Petroleum rose three sen to RM1.08.
The FBM Emas Index was 145.87 points higher at 12,016.44, the FBM Emas Shariah Index advanced 170.23 points to 12,014.23 and the FBMT 100 Index gained 146.50 points to 11,877.64.
The FBM Ace Index was 49.48 points higher at 4,711.59 and the FBM 70 rose 287.56 points to 14,443.20.
Sectorwise, the Financial Services Index improved 103.08 points to 17,769.53, the Industrial Products and Services Index was 2.53 points better at 168.38 and the Plantation Index increased 106.81 points to 7,509.25. — Bernama
