BURSA Malaysia ended the day at a near three-month high with the barometer index hovering just above 1,590 despite continuous profit-taking activity following a five-day rally.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was higher at 1,590.16 – up 4.42 points from Thursday’s close of 1,585.74 – supported by IHH Healthcare.
The index opened 2.84 points weaker at 1,582.90 and moved between 1,577.31 and 1,594.52 throughout the session.
However, market breadth was negative with decliners surpassing gainers 620 to 393, while 445 counters were unchanged, 801 untraded and 65 others suspended.
Turnover was lower at 4.08 billion units worth RM2.96 bil compared with 4.38 billion units worth RM3.25 bil yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said other markets in Asia were also not so rosy as many investors were sidelined after the US Federal Reserve’s hawkish wing used the day before a marquee speech by chair Jerome Powell to urge the central bank to begin paring its bond-buying programme.
Powell will deliver a speech at the Fed’s annual Jackson Hole gathering later today.
At home, the FBM KLCI closed 0.2% higher at 1,590.2 points on Friday with IHH pushing the Bursa Malaysia Healthcare Index up by 2.9% for the day.
Among healthcare-related heavyweights, IHH Healthcare Bhd soared 51 sen to RM6.35, Hartalega Holdings Bhd was 20 sen stronger at RM7.25 and, Top Glove Corporation Bhd gained five sen to RM3.91.
Tenaga Nasional Bhd (TNB) advanced eight sen to RM10.38 and Public Bank Bhd rose two sen to RM4.18.
In contrast, Malayan Banking Bhd (Maybank) lost eight sen to RM8.37, Dialog Group Bhd went down seven sen to RM2.69 and MR DIY Group (M) Bhd decreased five sen to RM3.61.
Among the actives, KNM Group Bhd and Avillion Bhd added two sen each to 26 sen and 14.5 sen, respectively, and Scope Industries Bhd dropped 2.5 sen to 31 sen.
Focus Dynamics Group Bhd and Dagang NeXchange Bhd were unchanged at five sen and 74.5 sen, respectively. – Aug 27, 2021
