Bursa Malaysia closes at intra-day high

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) closed five points or 0.28% higher at its intra-day high of 1,768.67 points, lifted by bargain hunting activities mostly for selected stocks led by gains in Petronas Gas, AMBank, and Astro.
The market fluctuated between 1,756.37 and 1,768.67 throughout the day, after opening 1.94 points easier at 1,761.73.
The market closed at 1,763.67 points on Friday.
Market breadth was however negative with losers outpacing gainers 448 to 419, while 360 counters were unchanged, 547 untraded and 22 others were suspended.
Volume widened to 1.76 billion units, worth RM1.73 billion, from 1.51 billion units, worth RM2.31 billion, recorded on Friday.
A dealer said the higher close on the local bourse was also supported by its regional peers which reacted positively to rising oil prices.
Brent crude futures climbed 0.3% to US$48.93 (RM210.65) per barrel while US West Texas Intermediate crude futures rose 0.5% to US$46.28 per barrel.
Meanwhile, another dealer said positive growth was also seen in Malaysia's Producer Price Index (PPI) data released by the Department of Statistics last Friday, which spurred movements on Bursa Malaysia.
The PPI for local production increased eight percent for May 2017 compared with the same month last year, but decreased 0.2% compared with the previous month.
For heavyweights, Maybank gained one sen to RM9.51, Petronas Chemicals rose 20 sen to RM7.30, AMBank added 14 sen to RM5.02 and IHH increased 10 sen to RM5.85.
TNB declined two sen to RM14.12, CIMB eased six sen to RM6.52 while Public Bank was flat at RM20.32.
Of actives, Frontken added 3.5 sen to 34 sen, Borneo Oil expanded one sen to 11.5 sen, Hiap Teck gained 1.5 sen to four sen while Hubline erased half-a-sen to six sen.
Among other inked-linked gainers, Genting Malaysia rose 13 sen to RM5.63, Petronas Gas added 26 sen to RM18.80 and Astro expanded six sen to RM2.59.
The FBM Emas Index rose 31.14 points to 12,630.09, FBM Ace improved 42.23 points to 6,535.93, FBMT 100 Index soared 30.16 points to 12,265.05, the FBM Emas Shariah Index was 36.09 points higher at 12,858.24 and the FBM 70 widened 20.30 points to 15,094.13.
On a sectoral basis, the Plantation Index was 18.76 points better at 7,931.96, the Finance Index jumped 12.03 points to 16,778.21 and the Industrial Index added 2.15 points to 3,272.71.
The Main Market turnover surged to 1.30 billion units, worth RM1.64 billion, from 1.13 billion units, valued at RM2.24 billion on Friday.
Warrants increased to 132.05 million units, valued at RM15.61 million, from 111.09 million units, worth RM16.07 million.
Volume on the ACE Market firmed to 311.70 million shares, worth RM71.92 million, from 256.58 million shares, valued at RM59.38 million, previously.
Consumer products accounted for 60.04 million shares traded on the Main Market, industrial products (346.58 million), construction (122.82 million), trade and services (521.14 million), technology (55.59 million), infrastructure (7.46 million), SPAC (240,000), finance (52.76 million), hotels (677,800), properties (121.19 million), plantations (11.08 million), mining (5,000), REITs (3.53 million) and closed/fund (48,400).
The physical price of gold as at 5pm stood at RM165.22 per gramme, down RM1.14 from RM166.36 at 5pm last friday. — Bernama