KUALA LUMPUR, June 2 — Bursa Malaysia closed higher today in line with the positive performance on regional bourses, and spurred by news that the government will announce its Short-Term Economic Recovery Plan on course this month, sending optimism amongst traders most evidently seen in financial services counters, dealers said.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.55 points to end the day at 1,507.69 from 1,490.14 at yesterday’s close.
The index, which opened 5.63 points weaker at 1,484.51 this morning, moved between 1,480.17 and 1,509.74 throughout the day.
The overall market breadth was positive with gainers outpacing decliners 596 to 428, while 374 counters were unchanged, 470 untraded and 26 others suspended.
Total volume eased to 9.6 billion shares worth RM6.2 billion from 10.3 billion shares worth RM6.73 billion yesterday.
MIDF Research in a note today said it had maintained its “neutral” stance on the banking sector as it expected the prolonged movement control order (MCO) and conditional movement control order (CMCO) would have an impact on loans growth and asset quality.
“While the CMCO represents a slight relaxation as compared to the MCO, and it could be lifted this month, we foresee that it will take some time for the situation to return to normal.
“All this will have a downside impact on the economy and this will affect the banks through higher credit cost. However, we do not foresee exacerbated stress to the banking sector as it is facing current headwinds on a position of strength,” it said.
Regionally, Japan’s Nikkei rose 1.19 per cent to 22,325.6, Hong Kong’s Hang Seng expanded 1.11 per cent to 23,995.94 and Singapore’s Straits Times improved 2.38 per cent to 2,611.63.
Among heavyweights, Maybank increased three sen to RM7.51, Public Bank which emerged as the top gainer today increased RM1.06 to RM15.64, Tenaga improved 10 sen to RM12.00, Petronas Chemicals added four sen to RM6.22, while IHH Healthcare declined five sen to RM5.51.
Of the actives, K-One bagged 6.5 sen to 51 sen, KNM Group, Icon Offshore and Velesto Energy added 1.5 sen each to 26 sen, 14 sen and 17.5 sen respectively, and Hibiscus Petroleum rose nine sen to 68.5 sen.
On the index board, the FBM Emas Index was 102.76 points firmer at 10,649.61, the FBMT 100 Index rose 102.17 points to 10,500.88 and the FBM 70 increased 46.83 points to 13,218.54.
Meanwhile, the FBM Emas Shariah Index eased 19.85 points to 12,204.78 and the FBM ACE declined 58.25 points to 5,873.07.
Sector-wise, the Financial Services Index surged 268.41 points to 12,691.7, the Industrial Products and Services Index improved 1.69 points to 131.41, while the Plantation Index trimmed 68.28 points to 6,753.85.
Main Market volume rose to 5.41 billion shares worth RM4.86 billion from 4.88 billion shares worth RM4.71 billion yesterday.
Warrants turnover fell to 545.61 million units worth RM134.8 million from 592.96 million units worth RM206.25 million yesterday.
Volume on the ACE Market decreased to 3.66 billion shares worth RM1.21 billion from 4.82 billion shares worth RM1.81 billion previously.
Consumer products and services accounted for 1.0 billion shares traded on the Main Market, industrial products and services (827.24 million), construction (259.05 million), technology (318.47 million), SPAC (nil), financial services (86.26 million), property (188.89 million), plantations (100.26 million), REITs (14.4 million), closed/fund (10,000), energy (2.17 billion), healthcare (123.00 million), telecommunications and media (175.11 million), transportation and logistics (109.39 million), and utilities (25.73 million). — Bernama
