BURSA Malaysia recouped early losses to close at its intraday high on Friday, with the key index advancing 0.95% on strong buying interest, mainly driven by selected heavyweights in financial services as well as industrial products and services counters.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 15.05 points to 1,602.41 from 1,587.36 at Thursday’s close.
The index opened 0.93 of-a-point higher at 1,588.29 earlier and hit a low of 1,582.09 in the morning session.
On the broader market, gainers led losers 554 to 406, with 419 counters unchanged, 857 untraded, and 35 others suspended.
Total turnover increased to 3.13 billion units worth RM2.16 bil from 2.86 billion units worth RM2.36 bil yesterday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the reopening of the international borders beginning today after two years due to COVID-19 pandemic provided a boost to the country’s economy and prospects of recovery in some sectors.
“Regionally, the key indices closed mostly higher on bargain hunting.
“On the domestic front, we believe the overall sentiment remains cautious due to lack of catalysts,” he told Bernama.
Regionally, Hong Kong’s Hang Seng Index added 0.19% to 22,039.55, Singapore’s Straits Times Index gained 0.31% to 3,419.11, China’s Shanghai Stock Exchange increased 0.94% to 3,282.72, while South Korea’s Kospi fell 0.65% to 2,739.85, and Japan’s Nikkei 225 fell 0.56% to 27,665.98.
Back home, Bursa Malaysia’s heavyweights, Maybank added 4 sen to RM8.98, Public Bank advanced 11 sen to RM4.78, Petronas Chemicals improved 17 sen to RM9.77, IHH Healthcare bagged 5 sen to RM6.25, while CIMB was flat at RM5.33.
Of the actives, ACE Market debutant Pappajack increased 9.5 sen to 39.5 sen, KNM Group rose 2.5 sen to 18 sen, TWL Holdings gained 1 sen to 8 sen, Hextar Industries perked up 3 sen to 34.5 sen, while Metronic Global was flat at 2 sen.
On the index board, the FBM 70 advanced 19.38 points to 13,872.85, FBMT 100 Index climbed 83.89 points to 11,150, FBM Emas Index bagged 84.33 points to 11,471.65, FBM Emas Shariah Index rose 90.50 points to 12,033.85, while FBM ACE advanced 67.06 points to 5,685.88.
Sector-wise, the Industrial Products and Services Index edged up 0.91 of-a-point to 206.35, the Plantation Index trimmed 4.22 points to 7,948.76, while the Financial Services Index improved 130.27 points to 16,908.86. – April 1, 2022
