KUALA LUMPUR, Dec 16 — Bursa Malaysia, which started off strongly in the morning session but saw gains tapering in the afternoon, managed to end on positive note today in tandem with regional peers amid optimism in the market.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished 7.39 points higher at 1,681.41 compared with yesterday’s close of 1,674.05.

It opened 20.31 points firmer at 1,694.33 and moved between 1,679.39 and 1,695.87 throughout the day.

On the broader market, gainers thumped losers 830 to 453, while 458 counters were unchanged, 403 untraded and 18 others suspended.

Total volume increased to 11.22 billion shares worth RM5.21 billion from 9.96 billion shares valued at RM5.02 billion yesterday.

Regionally, Asian shares were mostly higher taking a cue from US stocks which rose sharply overnight with Wall Street breaking a four-day losing streak as investors reacted to signs that a fiscal stimulus bill would be passed soon.

China’s Shanghai Stock Exchange eased 0.01 per cent to 3,366.98, Singapore’s Straits Times Index added 0.55 per cent to 2,872.47, Japan’s Nikkei 225 rose 0.26 per cent to 26,757.40 and Hong Kong’s Hang Seng Index increased 0.97 per cent to 26,460.29.

On the local front, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the bourse was higher throughout the day, as investors responded positively to the passing of Budget 2021, which is aimed at spurring economic activity.

“Investors also await cues from the US Federal Reserve, which is expected to release a new outlook for the economy later today showing an improvement, for market direction,” he told Bernama.

On the FBM KLCI constituents, he said rubber glove counters such as Top Glove saw buying interest, which made the stock the biggest gainer after its share price jumped 5.9 per cent today as continued progress on the rollout of COVID-19 vaccines boosted risk-on sentiment.

Petronas Chemicals was the biggest laggard, losing 4.5 per cent, he noted.

On a sectoral basis, Bursa Malaysia’s Construction Index gained the most as the passing of the budget solidified the government’s plan to resume mega infrastructure projects while the Energy Index witnessed the biggest drop today as persistent oversupply in the market largely offset hopes that a rollout of coronavirus vaccines would lift global fuel demand, he added.

Among the heavyweights, Public Bank rose 20 sen to RM21.88 and Top Glove bagged 36 sen to RM6.77.

Maybank shed four sen to RM8.81 and Petronas Chemicals fell 36 sen to RM7.60 while Tenaga was flat at RM10.80.

Of the actives, Sino Hua-An eased 1.5 sen to 19 sen, Bina Puri warrants added two sen to 6.5 sen, Tiger Synergy gained four sen to 16.5 sen while its warrants climbed eight sen to 9.5 sen, and Sunzen Biotech warrants improved two sen to three sen.

On the index board, the FBM Emas Index was 91.96 points higher at 12,100.99, the FBMT 100 Index gained 87.61 points to 11,863.50, the FBM 70 surged 253.68 points to 15,534.81 and the FBM Emas Shariah Index advanced 136.50 points to 13,433.46, but the FBM ACE slipped 105.06 points to 10,586.26.

Meanwhile, the Plantation Index trimmed 28.12 points to 7,363.77 while the Industrial Products and Services Index eased 1.84 points to 175.81 and the Financial Services Index slid 1.82 points to 15,949.90.

The Main Market volume increased to 7.84 billion shares worth RM4.40 billion from 6.17 billion shares worth RM4.12 billion yesterday.

Warrants turnover expanded to 912.82 million units worth RM155.06 million from 871.51 million units valued at RM146.27 million previously.

Volume on the ACE Market decreased to 2.47 billion shares worth RM655.57 million from 2.92 billion shares worth RM743.49 million yesterday.

Consumer products and services accounted for 1.13 billion shares traded on the Main Market, industrial products and services (1.75 billion), construction (1.32 billion), technology (524.95 million), SPAC (nil), financial services (116.83 million), property (1.27 billion), plantations (79.31 million), REITs (15.73 million), closed/fund (26,000), energy (1.27 billion), healthcare (99.48 million), telecommunications and media (55.20 million), transportation and logistics (108.86 million), and utilities (110.15 million). — Bernama