Bursa ends higher as investor confidence surges

KUALA LUMPUR, Feb 17 — Bursa Malaysia ended higher today as investor confidence was lifted following the better-than-expected gross domestic product (GDP) data released yesterday, said a dealer.

Bank Negara Malaysia yesterday announced that Malaysia’s GDP grew by 4.5 per cent in the fourth quarter of 2016 (4Q16), underpinned by continued expansion in private sector expenditure, leading to a full year growth of 4.2 per cent.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.09 of a point to end at 1,707.68 from Thursday’s close of 1,707.59.  

After opening 1.78 points lower at 1,705.81, the index moved between 1,705.79 and 1,711.75 throughout the day.

However, losers led gainers 431 to 427, with 378 counters unchanged, 485 untraded and 23 others suspended.

Volume was higher at 2.27 billion shares worth RM2.46 billion from 2.1 billion shares worth RM2.35 billion on Thursday.

Affin Hwang Capital Research, in a note today, said that Malaysia’s GDP growth of 4.5 per cent year-on-year in 4Q16 was higher than market expectations of 4.4 per cent, and its highest quarterly GDP growth since 4Q15 (4.3 per cent in 3Q16).

“This indicates a healthy growth momentum to sustain the domestic economy in 2017,” it said.

Affin Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan said the positive momentum helped bolster the KLCI to breach the 1,700-point psychological barrier.

“Based on the economic data, moving forward, I believe the market sentiment on the local front would remain positive,” he told Bernama.

Among heavyweights, Maybank added six sen to RM8.46, Sime Darby inched up one sen to RM9.15, Petronas Chemicals rose 20 sen to RM7.5 and Maxis improved two sen to RM6.43.

Of the actives, Bumi Armada bagged 5.5 sen to 72.5 sen, YFG edged up 1.5 sen to six sen, Dagang Nexchange gained three sen to 33.5 sen, and its warrant was one sen better at 8.5 sen.

The FBM Emas Index perked 3.87 points to 12,021.17, the FBMT 100 Index improved 2.64 points to 11,699.35 and the FBM 70 gained 10.89 points to 13,862.30.

However, the FBM Emas Syariah Index slid 14.35 points to 12,524.86 and the FBM Ace Index was 14.76 points lower at 5,291.64.

Sector-wise, the Plantation Index dipped 45.03 points to 8,146.42, the Finance Index fell 5.72 points to 15,067.0 and the Industrial Index lost 5.33 points to 3,277.91.

Main Market turnover improved to 1.71 billion units worth RM2.37 billion from 1.55 billion units worth RM2.24 billion on Thursday.

The ACE Market fell to 390.20 million shares valued at RM71.13 million from 393.56 million shares valued at RM86.38 million previously.

Warrants declined to 146.21 million units worth RM17.89 million from 155.74 million units worth RM18.99 million on Thursday.

Consumer products accounted for 115.85.11 million shares traded on the Main Market, industrial products (268.58 million), construction (95.73 million), trade and services (927.94 million), technology (62.01 million), infrastructure (9.27 million), SPAC (1.70 million), finance (71.53 million), hotels (300,300), properties (121.47 million), plantations (25.38 million), mining (1,000), REITs (13.80 million), and closed/fund (22,000). ― Bernama

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