BURSA Malaysia continued to hover at a two-month-high level on Thursday, with the benchmark composite index rallying to the 1,585-level.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 15.94 points to 1,585.74 from Wednesday’s close of 1,569.80.
The market bellwether opened 0.92 of-a-point higher at 1,570.72, which was also the lowest level for the day, and climbed as high as 1,590.91.
Market breadth was positive with gainers outpacing losers 580 to 506, while 419 counters were unchanged, 747 untraded and 23 others suspended.
Turnover, however, was lower at 4.38 billion units worth RM3.25 bil compared with 4.55 billion units valued at RM2.89 bil yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said Bursa Malaysia outperformed most Asian peers such as Hong Kong, China, South Korea and Indonesia that recorded losses.
“Perhaps the anticipated announcement of the Cabinet ministers line-up continued to reinstill confidence among investors towards Malaysia’s leadership.
“At the same time, expectations that the US Federal Reserve would drop hints on scaling back asset purchases during the Jackson Hole symposium on Friday waned, as tapering views may be evolving due to the Delta variant,” he told Bernama.
On the local front, Sime Darby was the top winner among the 30 companies that constitute FBM KLCI following a 5.8% jump during the day, while Bursa Malaysia’s Plantation Index gained the most among sectoral indices after ending 1.6% higher.
Among the heavyweights, Sime Darby Bhd went up 13 sen to RM2.39, Malayan Banking Bhd (Maybank) was 12 sen higher at RM8.45, Press Metal Aluminium Holdings Bhd added 16 sen to RM5.40, Public Bank Bhd increased six sen to RM4.16, and Petronas Dagangan Bhd clinched 78 sen to RM19.80.
MISC Bhd gained 16 sen to RM7.07 and Hap Seng Consolidated Bhd was 28 sen stronger at RM8.50.
Among the actives, Ta Win Holdings Bhd jumped 2.5 sen to 5.5 sen, BCM Alliance Bhd decreased three sen to 6.5 sen, Scope Industries Bhd slid 2.5 sen to 34.5 sen, and D’nonce Technology Bhd was six sen lower at 55 sen.
Green Packet Bhd was flat at 20.5 sen and AYS Ventures Bhd climbed 15.5 sen to 54.5 sen. – Aug 26, 2021
