KUALA LUMPUR, March 20 ― Bursa Malaysia remained higher at mid-afternoon, with the benchmark index 5.46 per cent higher, as market sentiment was lifted by gains in regional markets.

At 3.10pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 66.62 points to 1,286.34 from yesterday’s close of 1,219.72 after opening 0.82 points higher at 1,220.54 this morning.

On the broader market, gainers outpaced losers 756 to 185, with 209 counters unchanged, 868 untraded and 16 others suspended.

Turnover amounted to 2.94 billion shares worth RM1.83 billion.

A dealer said market players reacted positively to global policymakers’ efforts to blunt the Covid-19 economic blow by cutting interest rates and pumping liquidity into the markets.

“In Malaysia, BNM has decided to cut the statutory reserve requirement ratio by 100 basis points, which has benefitted index-linked banking stocks so far,” he added.

On the regional front, Singapore’s Straits Times Index was 1.71 per cent higher at 2,350.62, Hong Kong's Hang Seng Index rose 4.36 per cent to 22,655.66 and South Korea’s KOSPI Composite Index increased 7.44 per cent to 1,566.15.

On the heavyweights on Bursa Malaysia, Maybank jumped 27 sen to RM7.35, Tenaga surged 52 sen to RM11.84, Public Bank increased RM1.28, while RM13.94 and IHH was flat at RM5.15.

Energy counters dominated the actives list, with Sapura Energy rising one sen to 7.5 sen, Hisbiscus Petroleum adding 4.5 sen to 30.5 sen and Bumi Armada gaining two sen to 13.5 sen.

On the index board, the FBM Emas Index advanced 459.27 points to 8,717.06, the FBM Emas Shariah Index soared 393.52 points to 9,514.02 and the FBM 70 increased 521.36 points to 9,715.62.

The FBMT 100 Index garnered 452.20 points to 8,666.83 and the FBM Ace appreciated 246.44 points to 3,446.17.

Sector-wise, the Industrial Products and Services Index inched up 4.36 points to 96.88, the Plantation Index increased 255.51 points to 5,787.54 and the Financial Services Index soared 760.72 points to 11,646.18. ― Bernama