KUALA LUMPUR, Sept 30 — Bursa Malaysia ended its last trading session of the third quarter (Q3) barely in positive territory, supported by bargain hunting in financial and banking stocks such as Maybank, Public Bank, Hong Leong Financial and RHB.
However, the lower liners curbed today’s gains on the broader market, with losers overpowering gainers 696 to 313, while 594 counters were unchanged, 507 untraded and 43 others suspended.
Total volume rose to 5.66 billion shares worth RM2.64 billion from 5.15 billion shares worth RM3.58 billion recorded at yesterday’s close.
The FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.92 point to finish at 1,504.82 from yesterday’s close of 1,503.90.
The benchmark index opened 1.87 points higher at 1,505.77 and hovered between 1,497.78 and 1,512.95 throughout the day.
An analyst said last-minute buying in financial and banking counters cushioned the index from declining further.
He attributed the interest in these counters to the end of the blanket loan repayment moratorium today, which analysts believed may put the gross impaired loans ratio at a manageable level as the banking industry began the targeted moratorium approach.
“With the expectation of earnings recovery taking place in 2021, investors are slowly returning to the sector,” he said.
He added that investors were also upbeat following the release of strong Chinese economic data in September, which indicated recovery in the world’s number two economy.
Traders were also recalibrating positions on the final day of Q3 while eyeing the US September employment report on Friday, which is the last employment data before the presidential election in November.
Meanwhile, US equity-index futures dropped post-US presidential debate.
The S&P 500 futures fell 1.3 per cent, hours after the chaotic fighting between President Donald Trump and Democratic presidential nominee Joe Biden.
At the close, heavyweights Maybank rose six sen to RM7.22 and Public Bank gained 12 sen to RM15.70, but Top Glove lost 17 sen to RM8.30 and Hartalega erased 80 sen to RM16.20.
Of the actives, XOX slipped two sen to 13 sen, Kanger International shed three sen to 18 sen, Trive Property was flat at 2.5 sen and Prestariang added 5.5 sen to 56.5 sen.
On the index board, the FBM Emas Index slipped 7.41 points to 10,831.56, the FBM Emas Shariah Index weakened 37.07 points to 12,900.94 and the FBM 70 narrowed 44.06 points to 14,128.82.
The FBMT 100 Index went down 3.56 points to 10,660.70 but the FBM ACE added 18.67 points to 9,914.01.
Sector-wise, the Financial Services Index climbed 70.45 points to 12,477.62, the Industrial Products and Services Index edged up 1.62 points to 136.85 while the Plantation Index eased 12.29 points to 7,050.23.
Main Market volume rose to 2.80 billion shares worth RM1.99 billion from 2.45 billion shares valued at RM2.79 billion.
Warrants turnover decreased to 411.32 million units worth RM92.99 million from 667.64 million units worth RM160.82 million.
Volume on the ACE Market improved to 2.44 billion shares worth RM556.99 million versus 2.12 billion shares valued at RM632.91 million.
Consumer products and services accounted for 614.16 million shares traded on the Main Market, industrial products and services (768.62 million), construction (139.08 million), technology (413.34 million), SPAC (nil), financial services (43.58 million), property (334.04 million), plantations (51.91 million), REITs (10.57 million), closed/fund (22,000), energy (274.97 million), healthcare (62.97 million), telecommunications and media (32.60 million), transportation and logistics (36.71 million) and utilities (19.93 million). — Bernama
