Bursa Malaysia ends higher on better-than-expected GDP data

15 Nov 2019 / 19:04 H.

KUALA LUMPUR: Bursa Malaysia ended the trading day on a positive note after Bank Negara reported a better-than-expected 4.4% economic growth in the third quarter (Q3) -- a touch higher than the market expectation of 4.2%.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.2 points to 1,594.75 from 1,593.55 recorded at yesterday’s close.

The barometer index opened 0.24 of-a-point better at 1,593.79 and hovered between 1,592.22 and 1,596.85 throughout the day.

However, market breadth was negative as losers beat gainers 423 to 382, with 454 counters unchanged, 742 untraded and 19 others suspended.

Volume narrowed to 2.67 billion shares worth RM1.69 billion from 2.20 billion shares worth RM1.68 billion yesterday.

The gross domestic product (GDP) grew 4.4% in Q3 from a year earlier, which was slightly lower than the 4.9% on-year expansion in the second quarter of 2019.

The central bank attributed the slower economic growth to lower growth in key sectors such as services, manufacturing and agriculture as well as a decline in mining and construction activities.

Among the heavyweights, Maybank eased one sen to RM8.66 and Public Bank lost six sen to RM19.90 while Tenaga increased eight sen to RM13.68 and Petronas Chemicals was four sen higher at RM7.44.

Of the actives, Sapura Energy inched up one sen to 30 sen, Bumi Armada gained 3.5 sen to 52.5 sen, DGB slipped 1.5 sen to 15 sen and Priceworth shed half-a-sen to four sen.

Top losers included Nestle which gave up RM1.30 to RM143.70 and Petronas Dagangan which fell 20 sen to RM23.76.

As for the top gainers, Fraser & Neave jumped 26 sen to RM34.86, and IHH increased 11 sen to RM5.50.

The FBM Emas Index added 2.05 points to 11,313.77, the FBMT 100 Index gained 2.43 points to 11,125.81, the FBM Emas Shariah Index inched up 2.14 points to 11,835.95, and the FBM Ace improved 21.98 points to 4,920.07. However, the FBM 70 was 21.38 points weaker at 14,095.48.

Sector-wise, the Financial Services Index advanced 4.26 points to 15,611.73, the Industrial Products & Services Index was marginally higher by 0.36 of-a-point to 153.38 but the Plantation Index shed 0.94 of-a-point to 6,928.54.

Main Market volume stood at 1.83 billion shares worth RM1.51 billion compared with 1.28 billion shares worth RM1.46 billion transacted yesterday.

Warrants turnover slipped to 251.89 million units worth RM57.81 million versus 312.83 million units valued at RM71.35 million on Thursday.

Volume on the ACE Market eased to 605.81 million units worth RM130.73 million compared 607.53 million units worth RM140.96 million previously.

Consumer products and services accounted for 194.32 million shares traded on the Main Market, industrial products and services (311.15 million), construction (120 million), technology (105.97 million), SPAC (nil), financial services (39.32 million), property (117.05 million), plantations (30.83 million), REITs (22.45 million), closed/fund (10,000), energy (799.64 million), healthcare (15.62 million), telecommunications and media (40.42 million), transportation and logistics (23.34 million), and utilities (10.87 million).

The physical price of gold as at 5.00pm stood at RM189.39 per gramme, down 61 sen from RM190.00 at 5.00pm yesterday.

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