Gains in almost all sectors boost Bursa Malaysia to end higher

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, Oct 15 — Steady gains almost across the board particularly in the banking sector boosted Bursa Malaysia to end higher on the last trading day of the week.

The bullish showing was in sync with the upbeat performance of regional markets following positive cues from Wall Street overnight.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 5.76 points to 1,598.28 from 1,592.52 at Thursday’s close.

The market bellwether opened 2.65 points firmer at 1,595.17 and moved between 1,592.67 and 1,599.76 throughout the day.

Market breadth was positive with gainers leading losers 628 to 418, while 464 counters were unchanged, 779 untraded, and 17 others suspended.

Turnover widened to 4.96 billion units worth RM3.00 billion from 4.17 billion units worth RM2.85 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said investors were optimistic on US corporate earnings and better-than-expected labour data.

The US Labour Department said the number of claims for unemployment benefits dropped to below 300,000 for the first time in over a year last week.

The weekly jobless claims of 293,000 last week was the lowest since March 2020, bolstering the US stock markets.

Meanwhile, global benchmark Brent crude is trading near US$85 per barrel level, amid signs of increasing demand and tight supply.

The International Energy Agency said natural gas shortages are boosting demand for crude oil.

At home, the market undertone remained steady due to positive investor sentiment.

“We reckon that the index will stay positive going forward as foreign funds continue to return,” he told Bernama.

Of the heavyweights, Axiata and RHB Bank edged up nine sen to RM4.10 and RM5.75 respectively, MISC was 11 sen higher at RM7.26, Genting Malaysia expanded five sen to RM3.21, and Sime Darby rose four sen to RM2.35.

Hartalega lost 20 sen to RM6.02 and Top Glove slipped three sen to RM2.76.

Among the actives, Kanger International, Jadi Imaging, and Serba Dinamik eased half-a-sen each to five sen, 12 sen, and 38 sen respectively.

Hibiscus Petroleum added three sen to 94.5 sen and Brahims lost 22 sen to 24 sen.

On the index board, the FBM Emas Index went up 58.71 points to 11,768.87, the FBMT 100 Index rose 56.08 points to 11,406.74.94, the FBM Emas Shariah Index increased 68.42 points to 12,877.01, the FBM 70 climbed 134.49 points to 15,444.56, and the FBM ACE gained 24.95 points to 7,186.31.

Sector-wise, the Financial Services Index put on 49.53 points to 15,705.46, the Industrial Products and Services Index inched up 0.78 of-a-point to 212.94, and the Plantation Index bagged 43.19 points to 7,040.04.

The Main Market volume, however, narrowed to 2.86 billion shares worth RM2.57 billion compared with 2.94 billion shares worth RM2.47 billion on Thursday.

Warrants turnover surged to 463.32 million units valued at RM64.75 million against 198.00 million units valued at RM18.84 million yesterday.

The volume on the ACE Market swelled to 1.63 billion shares worth RM365.70 million from 938.35 million shares worth RM284.93 million previously.

Consumer products and services counters accounted for 730.75 million shares traded on the Main Market, industrial products and services (704.80 million), construction (135.96 million), technology (297.41 million), SPAC (nil), financial services (52.28 million), property (251.92 million), plantation (34.85 million), REITs (10.91 million), closed/fund (34,300), energy (473.20 million), healthcare (48.06 million), telecommunications and media (26.71 million), transportation and logistics (79.60 million), and utilities (11.94 million). — Bernama

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