Bursa Malaysia ends higher on positive external developments

Bursa Malaysia closed higher across the board on June 10, 2019. — Picture by Hari Anggara
Bursa Malaysia closed higher across the board on June 10, 2019. — Picture by Hari Anggara

KUALA LUMPUR, June 10 — Bursa Malaysia closed higher across the board today, in line with Asian peers lifted by positive external developments surrounding the market, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 6.14 points firmer at 1,655.47 from 1,644.09 at 5 pm on Friday.

The barometer index, which opened 2.60 points better at 1,651.93 this morning, moved between 1,651.85 and 1,656 throughout the session.

Market breadth was bullish with gainers thumping losers 613 to 276, while 350 counters were unchanged, 651 untraded and 28 others suspended.

Turnover increased to 2.28 billion units worth RM1.79 billion from 1.55 billion units valued at RM1.52 billion recorded at 5 pm Friday.

A dealer said Bursa Malaysia remained in positive territory throughout the trading session taking the cue from US stocks which ended sharply higher last Friday, following signs of a reprieve in global trade tensions and the likelihood of lower US interest rates.

He said the weaker-than-expected US May jobs report released on Friday added to expectations that the Federal Reserve would carry out rate cuts as soon as July.

Asian shares also advanced today as the US dropped its tariffs threat on Mexico in a deal to combat illegal migration from Central America, as well as sentiment brought by China’s better-than-expected trade data for May.

Regionally, the Singapore Straits Times Index bagged 0.66 per cent to 3,187.23, Japan’s Nikkei was 1.20 per cent higher at 21,134.42, Hong Kong’s Hang Seng rose 2.27 per cent to 27,578.64, South Korea’s Kospi gained 1.31 per cent to 2,099.49 and Shanghai’s SSE increased 0.98 per cent to 2,855.56.

Among heavyweights, Maybank added five sen to RM9.04, Public Bank rose eight sen to RM23.50, Tenaga and Petronas Chemicals eased two sen each to RM12.76 and RM8.38 respectively, while CIMB was flat at RM5.28.

Of the actively-traded stocks, Ekovest rose six sen to 85 sen, Bumi Armada added half-a-sen to 21 sen, Iskandar Waterfront perked 10.5 sen to 94 sen, while AirAsia X was flat at 24 sen.

The FBM Emas Index was 61.71 points higher at 11,642.36, the FBMT 100 Index increased 56.70 points to 11,497.12, the FBM Emas Shariah Index bagged 61.78 points to 11,852.22, the FBM 70 jumped 127.78 points to 14,355.10 and the FBM Ace rose 116.76 points to 4,380.90.

Sector-wise, the Financial Services Index was 77.35 points higher at 16,906.21 and the Plantation Index improved 8.54 points to 6,882.01, while the Industrial Products & Services Index was 0.20 point better at 160.74.

Main Market volume increased to 1.52 billion shares valued at RM1.64 billion from 1.21 billion shares worth RM1.48 billion during the half-day trading on Friday.

Warrants turnover rose to 493.48 million units valued at RM102.69 million from 154.56 million units worth RM18.57 million.

Volume on the ACE Market improved to 267.10 million shares valued at RM51.27 million from 178.52 million shares worth RM24.96 million.

Consumer products and services accounted for 250.35 million shares traded on the Main Market, industrial products and services (166.34 million), construction (311 million), technology (129.65 million), SPAC (nil), financial services (35.39 million), property (153.87 million), plantation (29.71 million), REITs (10.93 million), closed/fund (36,000), energy (326.97 million), healthcare (24.64 million), telecommunications and media (33.11 million), transportation and logistics (31.72 billion), and utilities (16.14 million). — Bernama