KUALA LUMPUR, April 10 — Bursa Malaysia closed higher across the board today, with the key index ending at an intra-day high, spurred by bargain hunting in small capitalisation stocks and amid bullish sentiment regionally.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.27 points to finish at 1,860.98 from 1,849.71 yesterday, after hitting a low of 1,846.78 in early morning.
Despite a weak opening, the key index rebounded after 19 minutes of trading following positive announcement from Chinese President Xi Jinping that the republic planned to further “open” its economy, including lowering tariffs on imported automobiles and other products.
JF Apex Securities Head of Research, Lee Chung Cheng, said the positive news from China had somewhat overturn the weak Wall Street sentiment due to report on the US Federal Bureau of Investigation raid.
“Bursa rebounded on bargain hunting after recording losses for quite some time, thanks to the simmering US-China trade war tension as well as the bullish news from President Xi,” he told Bernama.
Lee said the immediate resistance for the index now stands at 1,888 with support level at 1,800.
The FTSE Bursa Malaysia Small Cap Index jumped 641.98 points to 14,837.50.
The overall market breadth was firmer with gainers trouncing losers 955 to 222, while 220 counters were unchanged, 485 untraded and 22 others suspended.
Volume increased 3.73 billion units worth RM2.71 billion from 2.22 billion units valued at RM2.10 billion recorded yesterday.
Among heavyweights, Maybank, Public Bank, Tenaga, and CIMB rose two sen each to RM10.48, RM23.96, RM15.90 and RM7.04 respectively.
Petronas Chemicals, however, slipped three sen to RM8.45.
Of the actively-traded stocks, UMW O&G rose three sen to 27.5 sen, Huaan perked 8.5 sen to 42.5 sen, SKH eased 1.5 sen to 9.5 sen and Sapura Energy gained two sen to 53.5 sen.
KESM Industries was the biggest gainer today, rising RM2.22 to RM17.02, with 600,000 shares changing hands.
The FBM Emas Index was 159.75 points firmer at 13,045.55, FBMT 100 Index advanced 132.27 points to 12,850.07 and the FBM Emas Shariah Index soared 238.97 points to 13,297.69.
The FBM 70 rose 347.3 points to 15,664.75 and the FBM Ace jumped 350.58 points to 5,505.67.
Sector-wise, the Finance Index climbed 103.15 points to 18,100.5, Plantation Index put on 161.08 points to 8,100.99 and the Industrial Index improved 15.50 points to 3,229.61.
Main Market volume increased to 2.35 billion units worth RM2.49 billion from 1.25 billion units valued at RM1.94 billion on Monday.
Volume on the ACE Market expanded to 708.09 million shares worth RM121.22 million from yesterday’s 367.43 million shares valued at RM70.09 million.
Warrants’ volume rose to 671.56 million units worth RM92.64 million from 598.46 million units valued at RM95.24 million previously.
Consumer products accounted for 93.13 million shares traded on the Main Market, industrial products (808.03 million), construction (126.83 million), trade and services (951.77 million), technology (102.91 million), infrastructure (12.97 million), SPAC (1.71 million), finance (62.85 million), hotels (9.25 million), properties (132.15 million), plantations (35.9 million), mining (351,700), REITs (12.55 million), and closed/fund (24,500).
Earlier today, the Election Commission announced the 14th General Election will be held on May 9. — Bernama