FBM KLCI surges despite weaker sentiment
KUALA LUMPUR: Bursa Malaysia closed lower, but the benchmark index ended at an intra-day high of 1,724.84, up 11.71 points, led by Hong Leong Bank and Maybank, as investors reacted positively to the re-balancing exercise carried out by MSCI Inc on 14 stocks.
Trading was active and that was evident from the total turnover of 1.84 billion units valued at RM2.23 billion versus Monday's 1.80 billion units worth RM2.57 billion.
Losers led gainers 624 to 298 while 352 counters were unchanged, 569 untraded and 31 were suspended.
"The significant increase in the FBM KLCI is due to a reaction to the rebalancing of the key index," said an analyst.
Of heavyweights, Hong Leong bank soared RM1.70 to RM17, Maybank and Genting Malaysia jumped 13 sen each to RM9.38 and RM5.13, respectively, TM advanced 21 sen to RM6.18 and Hong Leong Financial Group was 54 sen higher at RM16.94.
TNB gained six sen to RM15.64, Public Bank was flat at RM20 and Genting Bhd declined four sen to RM8.91.
Of actives, PUB rose one sen to 21 sen, Berjaya Corp edged up half-a-sen to 36 sen, Borneo Oil and Netx Holdings were flat at nine sen and 4.5 sen, respectively, and Trive Property fell one sen to 4.5 sen.
On the scoreboard, the FBM Emas Index advanced 35.57 points to 12,395.39, FBMT 100 Index expanded 45.45 points to 12,070.3, FBM Emas Shariah Index trimmed 3.57 points to 12,835.92 and the FBM 70 Index shed 77.06 points to 15,263.6.
The FBM Ace gave up 31.84 points to 6,207.04.
Sector-wise, the Finance Index soared 251.92 points to 16,155.31, Plantation Index gained 8.37 points to 7,872.14 and the Industrial Index added 4.07 points to 3,167.69.
The Main Market volume went up to 1.26 billion units, worth RM2.14 billion, from Monday's 1.20 billion units, worth RM2.47 billion.
Volume on the ACE Market was lower at 372.96 million shares, valued at RM64.08 million, from 395.17 million shares, worth RM66.35 million, yesterday.
Warrants volume narrowed to 196.37 million units, worth RM26.32 million, from 200.50 million units, valued at RM32.33 million.
Consumer products accounted for 73.62 million shares traded on the Main Market, industrial products (273.79 million), construction (47.26 million), trade and services (471.64 million), technology (171.23 million), infrastructure (9.75 million), SPAC (2.86 million), finance (49.89 million), hotels (3.47 million), properties (109.72 million), plantations (37.28 million), mining (11,700), REITs (11.14 million), and closed/fund (10,800).
The physical price of gold as at 5pm stood at RM161.28 per gramme, up 21 sen from RM161.07 at 5pm yesterday. — Bernama