Shares on Bursa Malaysia close higher
KUALA LUMPUR: Shares on Bursa Malaysia, which remained in positive territory today, closed higher on improved market sentiment following overnight gains in Asian equities and strong China trade data.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed 4.3 points higher at 1,843.92 from 1,839.62 at yesterday's close.
After opening 2.48 points better at 1,842.1 this morning, the benchmark index hovered between 1,840.18 and 1,844.98 throughout the day.
A dealer said local traders found solace after China's exports registered stronger-than-expected growth in February, signalling that both its economy and global growth remained resilient, even as trade relations with the United States deteriorates.
Meanwhile, Kenanga Research, in a note, said 1,840 represents a crucial resistance level for the FBM KLCI, where a decisive breakthrough could see the index on a higher note towards 1,883.
Market breadth was positive as gainers led losers 490 to 460 with 391 counters unchanged, 535 untraded and 21 others suspended.
Volume increased to 2.25 billion units worth RM2.01 billion from 2.22 billion units worth RM2.05 billion on Thursday.
Among heavyweights, Maybank eased two sen to RM10.44, Public Bank was flat at RM23, Tenaga fell six sen to RM15.54 and CIMB gained two sen to RM7.15.
Of the active counters, SKH Consortium added half-a-sen to 10 sen, Sapura Energy lost 4.5 sen to 46.5 sen and NWP was three sen higher at 26.5 sen.
Meanwhile, Nova Pharma Solutions Bhd, which made its debut on Bursa Malaysia's LEAP Market today, ended at 22.5 sen, a premium of 2.5 sen over its offer price of 20 sen with 67,100 shares traded.
The FBM Emas Index increased 35.15 points to 12,968.94, the FBMT 100 Index was 36.21 points better at 12,711.19 and the FBM Emas Shariah Index bagged 30.99 points to 13,122.51.
The FBM 70 gained 66.36 points to 15,423.27 and the FBM Ace edged up 21.15 points to 5,971.86.
Sector-wise, the Industrial Index increased 11.43 points to 3,181.86, the Plantation Index gained 10.28 points to 8,044.16 and the Finance Index was 17.92 points weaker at 17,992.74.
Main Market volume increased to 1.33 billion units worth RM1.87 billion from 1.19 billion units worth RM1.89 billion yesterday.
Volume on the ACE Market decreased to 567.58 million shares valued at RM87.26 million from 640.68 million shares valued at RM107.66 million.
Warrants' volume fell to 347.52 million worth RM48.74 million from 388.48 million worth RM57.31 million.
Consumer products accounted for 91.95 million shares traded on the Main Market, industrial products (322.55 million), construction (76.94 million), trade and services (577.16 million), technology (42.67 million), infrastructure (7.26 million), SPAC (1.14 million), finance (57.58 million), hotels (837,000), properties (145.73 million), plantations (19.85 million), mining (629,300), REITs (7.35 million), and closed/fund (2,000).
The physical price of gold as at 5.00pm stood at RM160.53 per gramme, down 62 sen from RM 161.15 at 5.00pm yesterday. — Bernama