Bursa Malaysia ends at intra-day high on firmer oil prices
KUALA LUMPUR: Firmer oil prices ahead of crude oil producers meeting later today lifted Bursa Malaysia to end at its intra-day high, amid positive performance in most regional bourses.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 2.83 points better at 1,761.99 against last Friday's close of 1,759.16, after moving between 1,757.22 and 1,761.99 throughout the day.
The market bellwether opened 2.19 points higher at 1,761.35.
However, market breadth was negative with 516 losers and 314 gainers, while 364 counters were unchanged, 633 untraded and 24 others suspended.
Turnover stood at 1.67 billion shares worth RM1.68 billion.
A dealer said the benchmark Brent crude oil price went up 12 cents to US$48.18 (RM206.11) a barrel on Monday ahead of a joint meeting between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members in Russia later today.
Regionally, Hong Kong's Hang Seng surged 140.74 points or 0.53% to 26,846.83, Shanghai Composite Index improved 12.62 points or 0.39% to 3,250.60 and South Korea's Kospi Composite Index was up 1.47 points or 0.06% to 2,451.53.
However, the dealer also noted that investors remained cautious ahead of the two-day Invest Malaysia Kuala Lumpur 2017 (IMKL 2017) conference tomorrow.
"Speculation arises that Prime Minister Datuk Seri Najib Abdul Razak, who will officiate the conference, may disclose the new master developer for Bandar Malaysia at the event," he said.
Among heavyweights, Maybank was flat at RM9.63, Tenaga added six sen to RM14.18, Public Bank gained two sen to RM20.38, Sime Darby perked one sen to RM9.55 while CIMB was one sen lower at RM6.34.
Of actives, Hubline advanced half-a-sen to six sen while MLAB gave up three sen to 17 sen and MPay shed 1.5 sen to 26.5 sen.
GloTec and SCBuild remained unchanged at 6.5 sen and three sen, respectively.
BAT led the list of top gainers, putting on 72 sen to RM44.88, followed by Nestle which rose 64 sen to RM83.92, HCK and Allianz added 44 sen each to RM5.81 and RM14.60, respectively, and Dutch Lady was 30 sen better at RM59.30.
The FBM Emas Index rose 16.06 points to 12,556.07, the FBM Emas Syariah Index was up 11.53 points to 12,731.42 and the FBMT 100 Index improved 17.95 points to 12,197.63.
The FBM 70 was 15.73 points better at 14,931.625 but the FBM Ace fell 56.33 points to 6,699.15.
Sector-wise, the Industrial Index climbed 3.12 points to 3,278.26 as the Finance Index jumped 32.52 points to 16,703.66.
However, the Plantation Index was 17.60 points lower at 7,853.75.
The Main Market turnover eased to 1.05 billion shares worth RM1.56 billion from 1.86 billion shares worth RM1.78 billion last Friday.
Warrants shed to 100.49 million units valued at RM11.42 million from 138.0 million units worth RM14.2 million previously.
Volume on the ACE Market fell to 508.32 million shares worth RM100.93 million from 554.56 million shares worth RM131.95 million last Friday.
Consumer products accounted for 45.58 million shares traded on the Main Market, industrial products (264.57 million), construction (113.96 million), trade and services (370.39 million), technology (29.88 million), infrastructure (7.12 million), SPAC (114,000), finance (45.76 million), hotels (573,400), properties (152.34 million), plantations (14.41 million), mining (35,100), REITs (4.36 million) and closed/fund (54,900).
The physical price of gold as at 5pm stood at RM167.08 per gramme, up 87 sen from RM166.21 at 5pm last Friday. — Bernama