Bursa Malaysia ends at more than three-week high

KUALA LUMPUR: Bursa Malaysia reversed yesterday's losses and finished at more than three-week high today, spurred by persistent buying momentum in selected large-capitalised stocks amid corporate earnings season.
At the close, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 11.38 points, or 0.61%, higher at 1,871.46 from Monday's close of 1,860.08. On Feb 2, 2018, the index closed at 1,870.48.
The benchmark index opened 7.07 points firmer at 1,867.15 and moved between 1,865.79 and 1,872.35 throughout the day.
On the broader market, losers, however, outpaced gainers by 563 to 443 with 416 counters unchanged, 461 untraded and 52 others suspended.
Volume rose to 2.76 billion units worth RM2.89 billion from 2.72 billion units worth RM2.74 billion yesterday.
Rakuten Trade Sdn Bhd Research Vice-President, Vincent Lau, said many big companies, such as Hong Leong Bank Bhd and Ajinomoto (M) Bhd, had reported good financial results.
"The bullish companies' performances prompted buying interests and lifted the KLCI," he told Bernama.
However, Lau said, many investors remained cautious ahead of the inaugural testimony by new Federal Reserve (Fed) Chair, Jay Powell, to the House Financial Services Committee later today, as it could affect the Fed's interest rate increase decision.
"The worries over Powell's testimony had caused the number of losers to outpace the gainers on Bursa Malaysia," he said.
Of the heavyweights, Maybank rose six sen to RM10.46, Public Bank gained 10 sen to RM23.00, TNB increased by 14 sen to RM15.76, CIMB bagged nine sen to RM7.29 and Petronas Chemicals was seven sen higher at RM8.12.
Among active counters, Karambunai perked one sen to eight sen and its warrant inched up half-a-sen to three sen and DGB Asia eased one sen to 17.5 sen while its warrant improved half-a-sen to four sen.
Netx and PUC were flat at four sen and 27.5 sen, respectively.
Dutch Lady led the list of top gainers by increasing RM2.20 to RM69.90, followed by Hong Leong Financial Group, up 74 sen to RM19.20, Hong Leong Bank and Ajinomoto added 56 sen each to RM19.08 and RM22.98, respectively, and PPB was 46 sen better at RM18.18.
The FBM Emas Index rose 64.04 points to 13,348.96, FBMT 100 Index jumped 71.39 points to 13,047.54, FBM 70 improved 62.62 points to 16,333.13 and the FBM Emas Syariah Index was 50.94 points higher at 13,585.27.
The FBM Ace, however, eased 81.26 points to 6,344.45.
Sector-wise, the Finance Index soared 201.41 points to 18,299.16, Plantation Index rose 1.86 points to 8,076.13 and the Industrial Index was 27.16 points firmer at 3,246.93.
The Main Market volume declined to 1.62 billion units valued at RM2.69 billion from 1.70 billion units valued at RM2.54 billion on Monday.
Volume on the ACE Market increased to 684.59 million shares worth RM110.15 million from 475.48 million shares worth RM101.24 million yesterday.
Warrants' volume was lower at 442.41 million units valued at RM84.51 million versus Monday's 32.20 million units valued at RM94.74 million.
Consumer products accounted for 138.99 million shares traded on the Main Market, industrial products (323.26 million), construction (68.64 million), trade and services (615.07 million), technology (68.90 million), infrastructure (9.41 million), SPAC (141,000), finance (77.94 million), hotels (268,000), properties (271.86 million), plantations (26.59 million), mining (1.97 million), REITs (18.70 million), and closed/fund (nil).
The physical price of gold as at 5pm stood at RM162.23 per gramme, down 27 sen from RM162.50 at 5pm yesterday. — Bernama