KUALA LUMPUR, May 7 — Bursa Malaysia ended higher amid concerns over the US-China trade tensions, with Digi and Axiata in the limelight over their merger plan.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.57 points to 1,639.37 from yesterday’s close of 1,632.80.
After opening 6.03 points weaker at 1,626.77, the benchmark index moved between 1,626.06 and 1,641.86 throughout the day.
On the broader market, gainers beat losers 555 to 309 with 373 counters unchanged, 669 untraded and 19 others suspended.
Turnover increased to 3.02 billion shares worth RM2.25 billion from 2.79 billion shares worth RM1.70 billion recorded yesterday.
Analysts said Bursa Malaysia’s performance was in line with regional stock markets while investors weighed the latest development in the ongoing US-China trade dispute.
China’s top trade negotiator, Vice Premier Liu He, is set to meet US officials for a new round of talks this week after US President Donald Trump vowed to hike tariffs on Chinese goods.
Back home, most financial counters were in the red following Bank Negara Malaysia’s decision to cut the overnight policy rate (OPR) by 25 basis points to 3.00 per cent.
Maybank rose one sen to RM8.99, RHB was flat at RM5.69, Public Bank erased eight sen to RM22.48, while AMMB dropped four sen to RM4.44.
Axiata was the top gainer due to its ongoing mega merger talks with Norway’s Telenor Group, which has a 49 per cent stake in Digi.Com.
Its shares jumped 60 sen to RM4.64 while Digi was 28 sen higher at RM4.80.
Bumi Armada was the top active stock after its 30 per cent-owned joint-venture company bagged a RM8.8 billion project. The counter inched up half-a-sen to 21.5 sen, with 403.30 million shares traded.
Among the heavyweights, Petronas Chemicals increased 25 sen to RM9.05, Tenaga slipped eight sen to RM12.14, IHH eased two sen to RM5.56 while Sime Darby Plantation was four sen weaker at RM5.10.
Of the actively-traded stocks, Ekovest and Lambo were flat at 91 sen and nine sen respectively, Tiger Synergy shed half-a-sen to 3.5 sen and Iris inched up by half-a-sen to 17.5 sen.
The FBM Emas Index rose 44.07 points to 11,586.24, the FBMT 100 increased 39.83 points to 11,416.01 and the FBM 70 improved 26.12 points to 14,378.43.
The FBM Emas Shariah Index jumped 146.95 points to 11,831.81 and the FBM Ace Index advanced 98.18 points to 4,609.49.
Sector-wise, the Financial Services Index depreciated 180.79 points to 16,702.87 and the Plantation Index lost 16.13 points to 7,186.23 but the Industrial Products and Services Index was 1.85 points better at 168.97.
Main Market volume went up to 1.97 billion shares valued at RM2.02 billion from 1.89 billion shares valued at RM1.52 billion yesterday.
Warrants turnover increased to 578.04 million units worth RM165.19 million versus 568.18 million units worth RM132.91 million previously.
Volume on the ACE Market advanced to 472.65 million shares valued at RM54.17 million against 324.63 million shares valued at RM52.67 million yesterday.
Consumer products and services accounted for 205.10 million shares traded on the Main Market, industrial products and services (231.73 million), construction (353.06 million), technology (103.56 million), SPAC (nil), financial services (46.91 million), property (151.59 million), plantation (23.69 million), REITs (15.73 million), closed/fund (nil), energy (661.54 million), healthcare (33.26 million), telecommunications and media (103.18 million), transportation and logistics (15.98 million), and utilities (23.79 million).— Bernama
