Bursa Malaysia settles the week on positive note

A general view inside the RHB Centre stock market in Kuala Lumpur March 2, 2020. — Picture by Firdaus Latif
A general view inside the RHB Centre stock market in Kuala Lumpur March 2, 2020. — Picture by Firdaus Latif

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KUALA LUMPUR, May 7 — Continuous buying support in selected healthcare, industrial products and services counters pushed Bursa Malaysia to end the week on a positive note, with its benchmark index rising 0.58 per cent.

At 5pm, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) improved 9.12 points to 1,587.45 from yesterday’s close of 1,578.33.

The index opened 0.34 of-a-point higher at 1,578.67, and moved between 1,573.40 and 1,590.04 throughout the day.

Overall market breadth was positive as gainers surpassed losers 627 to 426, while 458 counters were unchanged, 667 untraded and 19 others suspended.

Total volume fell to 5.39 billion shares worth RM3.41 billion from 6.20 billion shares worth RM4.6 billion on Thursday.

Healthcare counters — especially the rubber glove makers — continued to be buoyed by the rise in Covid-19 cases, both locally and overseas.

Health Ministry director-general Tan Sri Dr Noor Hisham Abdullah tweeted that 4,498 new Covid-19 cases had been reported in the last 24 hours, bringing the total number of local Covid-19 cases to 432,425, to-date.

Top Glove added 20 sen to RM5.26, Hartalega jumped 31 sen to RM9.56, IHH bagged five sen to RM5.66, Supermax firmed nine sen to RM4.96, Careplus expanded 18 sen to RM2.41 and Kossan Rubber rose 17 sen to RM4.19.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI closed 0.6 per cent higher on Friday amidst bargain hunting activities, especially in the rubber glove counters.

This boosted the Bursa Malaysia healthcare index to 2.3 per cent, making it the biggest gainer, sector-wise.

“Overall sentiment was rather positive, stoked by news that China’s exports had unexpectedly accelerated, while its import growth had hit a 10-year high,” he told Bernama.

Among the heavyweights, both Maybank and Public Bank increased one sen to RM8.24 and RM4.10, respectively, while PetChem added 11 sen to RM8.30 and TNB eased two sen to RM9.90.

Of the actives, Focus Dynamics rose half-a-sen to 9.5 sen, Vizione fell 1.5 sen to 23 sen, UCrest decreased half-a-sen to 34.5 sen and Tanco gained one sen to 11 sen.

Among the gainers, Cycle & Carriage strengthened 59 sen to RM3.00, Widetec improved 49 sen to RM2.15, Adventa was 40 sen stronger at RM2.08 and KLK rose 32 sen to RM22.52.

On the index board, the FBM Emas Index improved by 61.46 points to 11,657.62, the FBMT 100 Index was 58.65 points higher at 11,314.38, the FBM Emas Shariah Index gained 83.99 points to 13,077.83, the FBM ACE soared 50.77 points to 8,326.53 and the FBM 70 rose 54.62 points to 15,259.48.

Sector-wise, the Financial Services Index added 34.99 points to 14,803.62, the Plantation Index improved 105.13 points to 7,097.49, and the Industrial Products and Services Index increased 1.86 points to 200.54.

Main Market volume fell to 3.70 billion shares worth RM2.80 billion compared with 3.93 billion shares worth RM3.79 billion on Thursday.

Warrants turnover decreased to 304.65 million units valued at RM45.83 million from 412.76 million units valued at RM45.83 million previously.

Volume on the ACE Market declined to 1.38 billion shares worth RM582.26 million from 1.86 billion shares worth RM615.97 million yesterday.

Consumer products and services accounted for 480.41 million shares traded on the Main Market, industrial products and services (1.55 billion), construction (244.30 million), technology (316.34 million), SPAC (nil), financial services (38.06 million), property (293.11 million), plantation (229.01 million), REITs (4.73 million), closed/fund (nil), energy (145.36 million), healthcare (124.91 million), telecommunications and media (52.72 million), transportation and logistics (208.97 million), and utilities (13 million). — Bernama

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