Bursa Malaysia ends on positive note ahead of weekend

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.06 points to 1,637.30 from yesterday’s close of 1,632.24. — Bernama pic
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.06 points to 1,637.30 from yesterday’s close of 1,632.24. — Bernama pic

KUALA LUMPUR, May 3 — Bursa Malaysia recouped earlier losses to close on a positive note today, ahead of the weekend on bargain-hunting activities mostly in blue chips, as well as lower liners and small caps, despite rising concerns over the global and local economy.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.06 points to 1,637.30 from yesterday’s close of 1,632.24.

After opening 0.71 of-a-point lower at 1,631.53, the benchmark index moved between 1,625.56 and 1,637.41 throughout the session. 

On the broader market, gainers led losers 447 to 395 with 383 counters unchanged, 680 untraded and 18 others suspended.

Turnover rose to 2.82 billion shares worth RM2.11 billion from 2.68 billion shares worth RM1.95 billion yesterday.

The gainers included United Plantation which added 40 sen to RM26.60, BLD Plantation advanced 29 sen to RM6.96, Amway rose 21 sen to RM6.17, Nestle increased 20 sen to RM146.50, Thong Guan Industries gained 16 sen to RM2.81 and Ekovest perked up 13 sen to 95.5 sen .

Asian shares market were mostly lower today due to the weaker oil prices, as well as caution ahead of the US non-farm payrolls data which is due later today which will give further market direction over the path of the US interest rates.

Hong Kong stocks climbed 0.46 per cent to 30,081.55, Korea’s KOSPI slipped 0.74 per cent 2,196.32, Jakarta Composite Index eased 0.86 per cent to 6,319.46 and Singapore’s Straits Times Index reduced 0.03 per cent to 3,392.29.

Meanwhile, China and Japan remained closed for holidays.

Back home, investors were also waiting for the release of the first quarter of 2019 (Q1 2019) gross domestic product (GDP) numbers which is due on May 16 and Bank Negara Malaysia’s monetary policy announcement on May 7.

Among heavyweights, Axiata gained nine sen to RM4.04, Maybank rose one sen to RM9.26 and Public Bank improved six sen to RM22.54.

Of the actively-traded stocks, IWCity jumped 10.5 sen to RM1.05, Lambo Group was half-a-sen lower at 9.5 sen and Bumi Armada was flat at 22 sen.

The FBM Emas Index was 38.10 points higher at 11,611.76, the FBMT 100 increased 37.02 points to 11,431.96 and the FBM 70 advanced 53.70 points to 14,521.39.

 The FBM Emas Shariah Index was 54.39 points firmer at 11,779.77 and the FBM Ace Index rose 41.90 points to 4,646.03.

Sector-wise, the Financial Services Index was up 18.21 points to 16,932.93, the Industrial Products and Services Index was 0.26 of-a-point better at 169.34 while the Plantation Index eased 4.06 points to 7,201.87.

Main Market volume improved to 2.02 billion shares valued at RM1.96 billion against 1.91 billion shares valued at RM1.80 billion yesterday.

Warrants turnover increased to 404.02 million units worth RM91.14 million from 347.54 million units worth RM86.49 million previously.

Volume on the ACE Market decreased to 382.70 million shares valued at RM55.54 million versus 414.73 million shares valued at RM62.67 million yesterday.

Consumer products and services accounted for 233.42 million shares traded on the Main Market, industrial products and services (349.08 million), construction (590.89 million), technology (96.53 million), SPAC (nil), financial services (42.46 million), property (242.24 million), plantation (29.11 million), REITs (12.06 million), closed/fund (nil), energy (342.83 million), healthcare (24.03 million), telecommunications and media (27.20 million), transportation and logistics (12.91 million), and utilities (21.08 million). — Bernama