KUALA LUMPUR, Sept 17 — Bursa Malaysia recouped earlier losses in late trading to close higher today, lifted by buying interest in selected index-linked counters amid weak external development, a dealer said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.05 point better at 1,604.30 against Friday’s close of 1,601.25 and moved between 1,597.09 and 1,609.97 throughout the day.
The index opened 8.67 points higher at 1,609.92.
The market was closed on Monday for Malaysia Day.
On the broader market, losers led gainers 510 to 382 with 377 counters unchanged, 710 untraded and 23 others suspended.
Turnover stood at 2.73 billion units worth RM2.18 billion.
The dealer said the attack on the world’s biggest processing petroleum facility in Saudi Arabia over the weekend, has benefited energy stocks on Bursa Malaysia, with most of the shares kept rising.
They include that of Petron Malaysia Refining, Petronas Gas, Petronas Dagangan, Hibiscus Petroleum, Alam Maritim, and KNM.
Maybank Investment Bank Bhd has maintained a “positive” call on the oil and gas (O&G) industry, noting that the incident disrupts six per cent of world oil output and 50 per cent of Saudi Arabia’s output, and equivalent to five years of global oil demand growth.
“This incident far outweighs the previous supply shock in the 70s and could escalate tensions in the already fragile Middle East.
“The disruption has returned volatility to the oil market with oil prices overshooting more than US$80/bbl temporarily,” it added.
Meanwhile, Asian stocks traded mostly lower as investors were also cautious over the geopolitical risks and the outcome of the two-day US Federal Reserve’s (Fed) policy meeting tomorrow at which it is widely expected to cut interest rate and signals its future policy direction.
Regionally, Singapore’s Straits Times Index fell 0.66 per cent to 3,182.69, Japan’s Nikkei improved 0.06 per cent to 22,001.32, and Hong Kong’s Hang Seng Index was 1.23 per cent easier at 26,790.24.
Among heavyweights, Maybank was flat at RM8.90, TNB fell 16 sen to RM13.62, Public Bank added two sen to RM20.16, Petronas Chemicals added 36 sen to RM7.77, and Petronas Gas increased 18 sen to RM16.42.
The FBM Emas Index rose 10.36 points to 11,321.69, the FBMT 100 Index was 9.17 points higher at 11,155.23 and the FBM Emas Shariah Index edged up 31.66 points to 11,863.76.
The FBM Ace went down 24.04 points to 4,532.97 and the FBM 70 eased 38.44 points to 13,979.45.
Sector-wise, the Financial Services Index fell 16.43 points to 15,555.32, the Plantation Index perked 9.02 points to 6,834.19, and the Industrial Products and Services gained 2.50 points to 155.14.
Main Market volume increased slightly to 1.92 billion shares worth RM2.02 billion from 1.28 billion shares worth RM1.34 billion last Friday.
Warrants turnover rose to 534.27 million units worth RM108.77 million from 398 million units worth RM76.18 million.
Volume on the ACE Market, however, fell to 272.25 million shares worth RM54.10 million from 424.85 million shares worth RM89.07 million previously.
Consumer products and services accounted for 185.93 million shares traded on the Main Market, industrial products and services (189.99 million), construction (58.67 million), technology (101.87 million), SPAC (nil), financial services (55.22 million), property (124.77 million), plantations (15.74 million), REITs (13.76 million), closed/fund (2,000), energy (934.64 million), healthcare (22.14 million), telecommunications and media (147.43 million), transportation and logistics (48.05 million), and utilities (20.07 million). — Bernama
