KUALA LUMPUR, Oct 29 — Bursa Malaysia ended on a firm note today, thanks to the persistent buying in the index-linked counters as positive trade sentiment fuelled investors’ risk appetite for global equities, a dealer said.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.79 points or 0.5 per cent to 1,577.79 from Friday’s close of 1,570.
After opening 3.16 points better at 1,573.16, the key index moved in positive territory of between 1,570.18 and 1,577.98 throughout the day.
Among biggest contributors to the rise in the composite index, CIMB increased eight sen to RM5.03, Sime Darby Plantation inched up 11 sen to RM4.91, Hong Leong Bank advanced 30 sen to RM17.00 and RHB Bank rose 16 sen to RM5.75.
Gains in these four counters contributed 4.981 points to FBM KLCI.
A dealer said Bursa and most of its regional peers were on the uptrend with investors cheering the positive developments in the US-China trade negotiations after President Donald Trump said phase one of the trade deal with China was ‘ahead of schedule’.
Trump on Monday said Washington would ‘sign a very big portion of the China deal’.
“This sparks rally in the market. Besides that, they (investors) also anticipate a rate cut by US Federal Reserve this week. It is a double relief,” said the dealer to Bernama.
Regionally, Japan’s Nikkei 225 advanced 0.47 per cent to 22,974.13, Singapore’s Straits Times Index improved 0.32 per cent to 3,195.78, Indonesia’s Jakarta Composite Index added 0.25 per cent to 6,281.14 but Hong Kong’s Hang Seng Index fell 0.39 per cent to 26,786.76.
On the broader market of Bursa, gainers slightly outnumbered losers 408 to 393, while 416 counters were unchanged, 780 untraded and 20 others suspended.
Volume expanded to 2.3 billion shares worth RM1.91 billion from 2.06 billion shares worth RM1.39 billion on Friday.
Bursa Malaysia and its subsidiaries were closed yesterday in lieu of the Deepavali public holiday which fell on October 27.
Among the most active, Yong Tai gained 2.5 sen to 21.5 sen, IFCA rose 5.5 sen to 49.5 sen, Velesto perked half-a-sen to 37 sen while Netx and Sapura Energy were both flat at two sen and 27 sen respectively.
The FBM Emas Index increased 39.17 points to 11,199.62, the FBMT 100 Index improved 38.7 points to 11,010.34, the FBM Ace advanced 57.01 points to 4,928.12 and the FBM Emas Shariah Index gained 17.43 points to 11,816.41.
However, the FBM 70 lost 15.4 points to 13,960.8.
Sector-wise, the Financial Services Index surged 123.82 points to 15,270.17, the Plantation Index climbed 57.39 points to 6,693.3, and the Industrial Products & Services Index added 0.06 of-a-point to 153.15.
Main Market volume widened to 1.43 billion shares worth RM1.72 billion from 1.33 billion shares worth RM1.24 billion on Friday.
Warrants turnover expanded to 313.59 million units valued at RM60.03 million against 305.11 million units valued at RM62.93 million.
Volume on the ACE Market improved to 564.46 million worth RM131.02 million compared with 428.11 million worth RM95.25 million previously.
Consumer products and services accounted for 235.69 million shares traded on the Main Market, industrial products and services (211.17 million), construction (115.23 million), technology (176.37 million), SPAC (nil), financial services (64.98 million), property (178.19 million), plantations (14.97 million), REITs (8.21 million), closed/fund (6,000), energy (293.88 million), healthcare (14.65 million), telecommunications and media (74.32 million), transportation and logistics (24.42 million), and utilities (14.26 million). — Bernama
