BURSA Malaysia ended today with a bang after Budget 2021 was passed in Parliament today.
At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 14.53 points higher at 1,612.11 compared with yesterday’s close of 1,597.58.
The index moved between 1,590.65 to 1,612.78 during the day.
In the overall market, gainers thumped losers 816 to 412 while 627 counters were unchanged, 323 untraded and 34 others suspended.
Total volume stood at 8.88 billion units worth RM4.68 bil from yesterday’s 8.93 billion units worth RM4.22 bil.
Meanwhile, the rubber market closed mixed today amid firmer advice in the regional rubber futures markets coupled with gains in crude oil prices.
A dealer said that China’s decision to secure economic recovery through supportive macroeconomic policies boosted investor sentiment.
According to a news report, China’s Premier Li Keqiang on Tuesday pledged to maintain the consistency and stability of the country’s macroeconomic policies and strive to continue with a proactive fiscal policy, prudent monetary policy and an employment first policy at the Fifth “1+6” Roundtable in Beijing.
“China will secure economic recovery and ensure balanced and high-quality growth with the right mix of supportive macroeconomic policies,” the dealer said.
Besides that, she said, the market players were expected to monitor developments on possible US economic stimulus for future adjustments to boost the economy.
The Malaysian Rubber Board’s (MRB) reference physical price for SMR 20 increased 3.5 sen to 643.5 sen per kilogramme (kg) while latex-in-bulk remained unchanged at 574.5 sen per kg.
At 5pm, the MRB’s closing price for SMR 20 stood at 636.5 sen per kg while latex-in-bulk was at 574 sen per kg. – Nov 26, 2020
