Bursa Malaysia ends on positive note

KUALA LUMPUR: Bursa Malaysia ended on a positive note today, despite retreating from some of its earlier gains due to mild profit taking amidst mixed sentiments on the regional stock markets, dealers said.

At the close, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.78 points to 1,413.12 from 1,407.34 at Friday’s close.

The barometer index, which opened 4.35 points firmer at 1,411.69, hovered between 1,411.69 and 1,428.95 throughout the day.

The overall market breadth remained bullish with gainers edging past losers 504 to 434, while 411 counters were unchanged, 563 untraded and 20 others suspended.

Turnover decreased to 5.99 billion shares worth RM3.21 billion from 6.31 billion shares worth RM3.02 billion last Friday.

A dealer said that Asian stock markets were mixed in early trading today after China announced a cut in its benchmark lending rates as expected.

“China’s one-year loan prime rate has been lowered by 20 basis points from 4.05 to 3.85%, while the five-year rate was cut by 10 basis points, from 4.75 to 4.65%.

“It was the second such cut this year as China moves to support its wavering economy, which is trying to restart from a coronavirus-related shutdown,” he said.

Among heavyweights, Maybank slipped one sen to RM7.69, TNB declined 10 sen to RM12.60, while Public Bank rose 12 sen to RM16.16, IHH Healthcare went up one sen to RM5.23 and Petronas Chemicals improved seven sen to RM5.72.

Of the actives, AirAsia X increased 4.5 sen to 12.5 sen, AirAsia Group added 8.5 sen to 87 sen, MSM Malaysia secured 18.5 sen to 60 sen while Minetech shed two sen to 26 sen.

On the index board, the FBM Emas Index was 48.97 points stronger at 9,823.91, the FBMT 100 Index increased 46.05 points to 9,702.80, the FBM Emas Shariah Index advanced 3.80 points to 10,841.32, the FBM ACE appreciated 10.75 points to 4,513.63 while the FBM 70 earned 81.50 points to 11,645.08.

Sector-wise, the Financial Services Index expanded 77.88 points to 12,724.83, the Industrial Products and Services Index gained 1.80 points to 120.82 and the Plantation Index improved 19.84 points to 6,355.95.

Strong interest was also seen in small-capitalisation stocks with the FBM Small Cap Index jumping 280.42 points to 11,736.34.

Main Market volume increased to 4.55 billion shares worth RM2.93 billion from 4.36 billion shares worth RM2.71 billion on Friday.

Warrants turnover widened to 450.38 million units worth RM68.06 million from last week’s 443.93 million units worth RM79.15 million.

Volume on the ACE Market narrowed to 988.39 million shares worth RM204.70 million from 1.51 billion shares worth RM232.97 million previously.

Consumer products and services accounted for 1.41 billion shares traded on the Main Market, industrial products and services (819.88 million), construction (375.21 million), technology (448.80 million), SPAC (nil), financial services (86.25 million), property (416.41 million), plantations (110.13 million), REITs (13.07 million), closed/fund (70,500), energy (525.85 million), healthcare (49.31 million), telecommunications and media (112.70 million), transportation and logistics (141.66 million), and utilities (39.45 million). - Bernama