Bursa Malaysia closes higher

KUALA LUMPUR: Bursa Malaysia ended the day higher in line with major Asian stock markets, boosted by news of a stronger-than-expected US manufacturing data despite lower oil prices, dealers said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.70 points to 1,661.25 compared with Friday's close of 1,652.55.

After opening 5.81 points better at 1,658.36 this morning, the index fluctuated within a narrow range of between 1,658.02 and 1,666.02 throughout the day.

Gainers led losers 408 to 398 while 364 counters were unchanged, 490 untraded and 18 others suspended.

Volume fell to 1.49 billion units worth RM1.94 billion from 1.75 billion units worth RM2.19 billion recorded on Friday.

A dealer said the US manufacturing sector index in September recovered to 51.5 from 49.4 in August, signalling that the US economy had improved.

Regionally, Tokyo's Nikkei 225 rose 0.53% to 16,735.65, South Korea's Kospi added 0.55% to 2,054.86 and Hong Kong's Hang Seng index increased 0.45% to 23,689.44.

Meanwhile, the dealer said oil prices fell on news of increased Iranian exports which would add to the global oversupply, although the planned Organisation of the Petroleum Exporting Countries-led production cut later this year offered some support.

Global benchmark Brent crude oil futures were traded at US$50.49 per barrel today, down 40 cents from its previous close.

On the scoreboard, the FBM Emas Index rose 68.32 points to 11,755.90, the FBMT100 Index increased 69.75 points to 11,456.84 and the FBM Emas Syariah Index added 71.20 points to 12,419.38.

The FBM 70 jumped 119.39 points to 13,841.52 and the FBM Ace was 16.25 points higher at 5,236.16.

Sector-wise, the Finance Index gained 91.55 points to 14,249.84, the Industrial Index put on 0.23 of-a-point to 3,110.25 and the Plantation Index was 29.39 points better at 7,949.49.
Of the heavyweights, Tenaga added four sen to RM14.34, Public Bank rose six sen to RM19.88, Maybank improved eight sen to RM7.58 and Petronas Chemicals was five sen higher at RM6.70.

Among actives, both Borneo Oil and At Systematization were flat to 18.5 sen and 6.5 sen, respectively, while Perisai Petroleum Teknologi fell 3.5 sen to nine sen.
Main market turnover decreased to 1.08 billion shares valued at RM1.87 billion from 1.20 billion shares valued at RM2.10 billion recorded on Friday.

The ACE Market volume fell to 164.72 million units valued at RM23.54 million versus 252.12 million units valued at RM29 million.

Warrants shrank to 237.27 million shares worth RM45.57 million against 289.16 million shares worth RM53.76 million.

Consumer products accounted for 55.40 million shares traded on the Main Market, industrial products (194.66 million), construction (47.87 million), trade and services (541.07 million), technology (29.49 million), infrastructure (12.63 million), SPAC (47.40 million), finance (53.81 million), hotels (69,700), properties (66.60 million), plantations (26.75 million), mining (nil), REITs (12.67 million) and closed/fund (33,600).
The physical price of gold as at 5pm stood at RM168.10 per gramme, down RM2.37 from RM170.47 at 5pm last Friday. — Bernama