Bursa Malaysia ends on firm note
KUALA LUMPUR: Bursa Malaysia ended on a firm note today on persistent buying support in selected heavyweights like Axiata Group Bhd, Petronas Chemicals Group Bhd (PChem) and Kuala Lumpur Kepong Bhd (KL Kepong).
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.23 points, or 0.37%, to end at 1,691.24 from Friday's close of 1,685.01.
The index opened 1.06 points higher at 1,686.07 and then moved between 1,684.63 and 1,691.24 throughout the day.
On the broader market, gainers outpaced losers by 622 to 286, with 340 counters unchanged, 448 untraded and 16 others were suspended.
Volume improved to 2.62 billion shares worth RM2.31 billion from 1.95 billion shares worth RM2.04 billion on Friday.
Of the heavyweights, PChem rose 15 sen to RM7.28, Axiata gained 13 sen to RM5.08, KL Kepong added 66 sen to RM25.16 and Maybank was up two sen to RM8.22.
Public Bank, however, declined two sen to RM20.18.
A dealer said plantation company, KL Kepong, rose because the natural rubber shortage and the recovery in the global economy had brightened prospects for the industry this year.
Tenaga and IHH Healthcare were flat at RM13.44 and RM6.29, respectively.
Of the actives, Hibiscus Petroleum and Borneo Oil each gained one sen to 54 sen and 17 sen respectively.
A dealer said the stronger FBM KLCI was in sync with the performance of other regional stock markets following the unclear fiscal policy from the recent US President Donald Trump's press conference.
He said this has led to weaker US dollar as well as lower bond yields, which shifted investors' focus towards emerging markets.
The FBM Emas Index gained 63.75 points to 11,902.31, FBMT100 Index rosed 58.54 points to 11,589.87 and the FBM Emas Syariah Index bagged 63.75 points to 11,902.31.
The FBM 70 rose 129.76 points to 13,744.50, FBM Ace surged 76.42 points to 5,179.61, Finance Index rose 33.71 points to 14,882.35, Industrial Index surged 5.54 points to 3,211.14 and the Plantation Index soared 104.10 points to 8,196.75.
Main Market turnover increased to 1.81 billion units worth RM2.18 billion from Friday's 1.40 billion units worth RM1.93 billion.
The ACE Market increased to 528.97 million shares valued at RM97.79 million from 387.33 million shares valued at RM82.32 million last week.
Warrants rose to 276.88 million units worth RM37.89 million from 162.15 million units worth RM20.88 million.
Consumer products accounted for 128.99 million shares traded on the Main Market, industrial products (416.54 million), construction (135.56 million), trade and services (778.84 million), technology (75.20 million), infrastructure (12.16 million), SPAC (1.11 million), finance (79.60 million), hotels (300,600), properties (118.87 million), plantations (41.86 million), mining (16,000), REITs (30.35 million), and closed/fund (6,200).
The physical price of gold as at 5.00pm stood at PM168.46 per gramme, up RM1.34 from RM167.12 at 5pm last friday. — Bernama