Bursa Malaysia recovers to end at day’s high

KUALA LUMPUR: Bursa Malaysia rebounded to end at the day’s high amid the lingering overbought condition since the previous week, a dealer said.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.92 points or 0.17% to 1,672.37 compared with 1,669.45 at Friday’s close.

The benchmark index opened 0.95 of–a–point higher at 1,670.59 earlier today and moved between 1,664.38 and 1,672.37 throughout the day.

The broader market was negative, with decliners leading advancers 469 to 374, while 406 counters were unchanged, 600 untraded and 19 others suspended.

Maybank IB Research Analyst Nik Ihsan Raja Abdullah told Bernama that the weak performance in the morning session was weighed by index–linked banking stocks, which made up 30% of the index components.

Among banking stocks that were under pressure were Maybank, CIMB and Hong Leong Financial Group, which fell two sen each to RM8.90, RM5.18 and RM18.76, respectively, while AMMB fell one sen to RM4.30.

Last–minute buying helped TNB to close 20 sen higher to RM13.88, Genting gained 10 sen to RM3.39, Maxis climbed five sen to RM5.68 and Dialog was six sen higher at RM3.44.

As for the losers, Dutch Lady was 40 sen lower at RM63.60, Panasonic declined 30 sen to RM40.20, KESM lost 21 sen to RM8.08, Sam Engineering and Y&G shed 18 sen to RM8.10 and 73 sen, respectively.

The FBM Emas Index was up 23.18 points to 11,867.43 and the FBMT 100 Index rose 21.39 points to 11,690.90.

The FBM Emas Shariah Index was 28.72 points higher at 12,270.64, the FBM Ace gained 45.51 points to 4,695.64 while the FBM 70 added 31.27 points to 14,908.84.

Sector–wise, the Financial Services Index fell 6.66 points to 16,635.53, the Plantation Index dipped 9.86 points to 6,901.42 and the Industrial Products and Services Index eased 0.46 of–a–point to 160.86.

Turnover rose to 3.01 billion units worth RM1.65 billion compared to last Friday’s 2.93 billion units worth RM2.28 billion.

Main Market volume was slightly lower at 2.01 billion shares worth RM1.46 billion from 2.11 billion shares worth RM2.08 billion.

Warrants turnover improved to 454.26 million units valued at RM96.26 million from 405.07 million units valued at RM88.7 million last Friday.

Volume on the ACE Market expanded to 540.53 million shares worth RM85.18 million from 413.78 million shares worth RM105.6 million previously.

Consumer products and services accounted for 299.59 million shares traded on the Main Market, industrial products and services (251.97 million), construction (137.79 million), technology (222.76 million), SPAC (nil), financial services (25.69 million), property (103.95 million), plantation (9.95 million), Reits (13.57 million), closed/fund (nil), energy (761.61 million), healthcare (23.52 million), telecommunications and media (47.74 million), transportation and logistics (27.85 million) and utilities (91.28 million).

The physical price of gold as at 5.00pm stood at RM180.93 per gramme, up 82 sen from RM180.11 at 5.00pm last friday. — Bernama