KUALA LUMPUR, June 29 — Bursa Malaysia recovered from earlier losses to close higher, propelled by healthcare as well as rubber manufacturers’-linked counters, on news that Malaysia’s exports are expected to improve in the coming months.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.29 points or 0.42 per cent to end the day at 1,494.43 from last Friday’s close of 1,488.14.
The index opened 2.95 points weaker at 1,485.19 and moved between 1,476.28 and 1,494.97 throughout the trading session.
The overall market breadth was however negative with losers outpacing gainers 664 to 371, while 389 counters were unchanged, 528 untraded and 62 others suspended.
Total volume increased to 6.01 billion shares worth RM3.05 billion from last Friday’s 4.73 billion shares valued at RM2.38 billion.
MIDF Research today said the country’s exports were expected to improve gradually in the upcoming months as key countries slowly reopen.
The research firm said Malaysia’s export performance in May was at an 11-year low due to COVID-19.
Malaysia’s exports dived 25.5 per cent year-on-year (yoy) in May 2020, the hardest fall since May 2009, suggesting a prolonged impact of the pandemic on export-reliant economies.
“Malaysia is not the sole one as other neighbouring countries like Indonesia and Thailand also experienced a contraction of above 20 per cent yoy in their exports,” it said in a note today.
Similar to exports, Malaysia’s imports contracted by 30.4 per cent yoy, the largest drop since January 2009.
“Nevertheless, as imports fell harder than exports, trade balance shifted to a surplus of RM10.4 billion, in line with our expectation,” said MIDF Research.
Meanwhile, a dealer said COVID-19 cases rose in the United States, China, Australia and other parts of the world, leading countries to resume partial lockdowns.
On the home front, heavyweights Maybank decreased nine sen to RM7.53, Public Bank trimmed 12 sen to RM16.44, Petronas Chemicals eased 15 sen to RM6.20, while IHH Healthcare improved 24 sen to RM5.60 and TNB added eight sen to RM11.56.
Of the most actives, AT Systematization went up three sen to 14 sen, VSolar rose 1.5 sen to seven sen, AT Systematization’s warrant advanced half-a-sen to six sen, MQ Technology was two sen higher at 6.5 sen, while Anzo Holdings declined three sen to 14.5 sen.
On the index board, the FBM Emas Index increased 34.22 points to 10,492.38, the FBMT 100 Index climbed 37.39 points to 10,353.2 and the FBM 70 rose 21.47 points to 12,807.62.
The FBM Emas Shariah Index was 116.18 points higher at 11,953.49 and the FBM ACE put on 132.53 points to 6,204.93.
Sector-wise, the Industrial Products and Services Index edged up 1.74 points to 132.56, the Financial Services Index declined 120.99 points to 12,701.76 while the Plantation Index rose 66.75 points to 6,726.34.
Main Market volume narrowed to 2.53 billion shares worth RM2.3 billion from 2.64 billion shares worth RM1.92 billion last Friday.
Warrants turnover rose to 443.87 million units valued at RM103.76 million versus 335.13 million units valued at RM66.87 million previously.
Volume on the ACE Market swelled to 3.03 billion shares worth RM645.07 million from 1.75 billion shares worth RM392.21 million previously.
Consumer products and services accounted for 345.67 million shares traded on the Main Market, industrial products and services (762.53 million), construction (250.5 million), technology (236.9 million), SPAC (nil), financial services (38.7 million), property (155.15 million), plantations (39.77 million), REITs (5.7 million), closed/fund (17,500), energy (456.93 million), healthcare (84.1 million), telecommunications and media (65.14 million), transportation and logistics (70.63 million), and utilities (27.73 million). — Bernama
