BURSA Malaysia ended higher with the key index bouncing back stronger by 1.38% today, in anticipation of a swift decision on Malaysia’s next administration.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) soared 20.69 points to end the day at 1,523.59 from Monday’s close of 1,502.90.
The market bellwether opened 2.37 points higher at an intraday low of 1,505.27 and hit an intraday high of 1,524.71 during the trading session today.
Market breadth remained positive at the close with gainers leading losers 621 to 395, while 407 counters were unchanged, 777 untraded, and eight others suspended.
Turnover decreased to 4.32 billion units worth RM2.38 bil from 5.03 billion units worth RM2.37 bil on Monday.
According to news reports, all parliamentarians have been instructed to submit their vote on their candidate to become the next prime minister to Istana Negara, until 4 pm on Wednesday (Aug 18).
Rakuten Trade head of equity sales Vincent Lau said the current market strength was lifted by the index-linked stocks and this upward momentum is likely to sustain for the remaining trading sessions of the week.
“It depends on how soon they can come up with a new government and directions,” he told Bernama.
Of the heavyweights, Malayan Banking Bhd (Maybank) jumped eight sen to RM8.14, Public Bank Bhd gained two sen to RM3.85, Petronas Chemicals Group Bhd put on five sen to RM8, Tenaga Nasional Bhd (TNB) surged 19 sen to RM9.94, CIMB Group Holdings Bhd bagged nine sen to RM4.60, and IHH Healthcare Bhd fell two sen to RM5.78.
Among the actives, Advance Synergy Bhd was five sen higher at 22.5 sen, Malayan United Industries Bhd rose one sen to 10.5 sen, Fintec Global Bhd was flat at 2.5 sen, while Avillion Bhd and Komarkcorp Bhd eased one sen each to 20 sen and 11.5 sen, respectively. – Aug 17, 2021
