KUALA LUMPUR, Sept 20 — Bursa Malaysia wrapped the week 0.07 per cent higher today, rebounding from an earlier decline and gaining strength on mild bargain-hunting in lower liners and small caps amid cautious market sentiment over the global economic growth prospects, said a dealer.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.13 points to 1,597.41 from yesterday’s close of 1,596.28 after moving between 1,590.02 and 1,597.61 throughout the day.
The index opened 1.33 points better at 1,597.61.
Overall, market breadth was negative as losers led winners 394 to 380 with 449 counters unchanged, 764 untraded and 18 others suspended.
Turnover rose to 3.10 billion units worth RM3.29 billion from Thursday’s close of 2.28 billion units worth RM1.50 billion.
He said the local bourse turned positive from earlier losses in line with most regional peers, and on renewed better sentiment as the Chinese central bank cut a key lending rate, making it cheaper for companies to borrow, while India slashed its corporate tax rate to 22 per cent from 30 per cent.
Japan’s Nikkei 225 added 0.16 per cent to 22,079.09, while Singapore’s Straits Times Index rose 0.25 per cent to 3,166.67 and Hong Kong’s Hang Seng erased 0.13 per cent to 26,435.67.
“Meanwhile, rising global oil prices, supported by supply risks brought about by last weekend’s drone attacks on Saudi oil facilities, lifted the oil and gas (O&G) related counters on Bursa Malaysia,” he told Bernama.
Brent crude is on track to rise about 7.7 per cent this week, the biggest weekly gain since January.
Gainers included Scientex, Dutch Lady, Muhibbah Engineering and Hong Leong Industries.
Among heavyweights, Maybank advanced nine sen to RM8.73, Public Bank was flat at RM20.16, TNB gained eight sen to RM13.70, and IHH Healthcare added five sen to RM5.70.
The FBM Emas Index rose 6.38 points to 11,282.97, the FBMT 100 Index gained 5.97 points to 11,115.41 and the FBM Emas Shariah Index perked 2.14 points to 11,834.31.
The FBM 70 depreciated 0.27 point to 13,963.15 but the FBM Ace rose 47.73 points to 4,573.27.
Sector-wise, the Financial Services Index rose 38.84 points to 15,461.93, the Plantation Index dropped 9.45 points to 6,776.67 and the Industrial Products & Services Index was 0.18 of-a-point better at 154.55.
Main Market volume firmed to 2.32 billion shares worth RM3.12 billion from 1.39 billion shares worth RM1.33 billion yesterday.
Warrants turnover eased to 314.41 million units worth RM73.87 million from 392.37 million units worth RM84.06 million.
Volume on the ACE Market reduced to 459.03 million shares worth RM90.57 million from 504.37 million shares worth RM83.42 million previously.
Consumer products and services accounted for 232.46 million shares traded on the Main Market, industrial products and services (253.12 million), construction (50.47 million), technology (223.81 million), SPAC (nil), financial services (76.02 million), property (157.17 million), plantations (45.30 million), REITs (30.31 million), closed/fund (4,000), energy (916.19 million), healthcare (36.98 million), telecommunications and media (138.08 million), transportation and logistics (46.68 million), and utilities (121.51 million). — Bernama
