KUALA LUMPUR: Bursa Malaysia closed today slightly higher, mostly in range-bound trading as bargain-hunting interspersed with profit taking in heavyweight stocks.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.08 points better at 1,491.03 from Wednesday’s close of 1,489.95.
After opening 2.41 points higher at 1,492.36 this morning, the benchmark index moved between 1,486.35 and 1,497.31 throughout the day.
On the broader market, gainers led losers 516 to 350, with 364 counters unchanged, 766 untraded and 17 others suspended.
Turnover shrank to 2.78 billion shares worth RM2.07 bil from 2.99 billion shares worth RM2.37 bil on Wednesday.
A dealer said the local bourse opened on a positive note, extending yesterday’s uptrend, spurred by an overnight rally on the Wall Street, but profit taking in heavyweight stocks, which emerged before the midday break, dragged the barometer index into the negative territory.
“Bursa Malaysia remained in range-bound trading throughout the second half of trading session today,” he added.
Meanwhile, AxiCorp chief market strategist Stephen Innes said the local bourse continued to lag, primarily down due to foreign investors’ preference for China stocks at the moment.
He noted that there were also foreign inflows into Taiwan and Korea’s equity markets today for the first time since Feb 21.
“But the fact that the FBM KLCI has stopped the downward spiral is encouraging,” he added.
Regionally, Japan’s Nikkei index rose 1.09% to 21, 329.12, Singapore’s Straits Times lndex eased 0.2% to 3,018.94, South Korea’s KOSPI Composite Index climbed 1.26% to 2,085.26, Shanghai’s Stock Exchange Index rose 1.99% to 3,071.68, and Hong Kong’s Hang Seng Index gained 2.08% to 26,767.87.
Among the heavyweights, Maybank and Tenaga gained six sen each to RM8.53 and RM12.64, respectively, and Public Bank rose 10 sen to RM18.00.
CIMB slid four sen to RM4.50, while IHH was flat at RM5.60.
Of the actives, XOX and Vortex eased half-a-sen each to three sen and 7.5 sen, respectively, Sapura Energy and Priceworth edged up half-a-sen each to 17 sen and two sen, respectively, while Tiger Synergy was flat at three sen.
On the index board, the FBM Emas Index added 28.68 points to 10,533.21, the FBM Emas Shariah Index rose 39 points to 11,190 and the FBMT 100 Index expanded 25.31 points to 10,354.29.
The FBM ACE increased 48.22 points to 5,293.44 and the FBM 70 surged 105.13 points to 12,920.79.
Sector-wise, the Industrial Products and Services Index improved 1.59 points to 136.86, the Financial Services Index was 10.17 points higher at 14,460.71 and the Plantation Index expanded 14.49 points to 6,766.77.
Main Market volume slipped to 1.64 billion shares worth RM1.83 bil from 1.7 billion shares worth RM2.14 bil on Wednesday.
Warrants turnover expanded to 440.25 million units valued at RM73.71 mil compared with 382.36 million units worth RM64.34 milyesterday.
Volume on the ACE Market shrank to 698.18 million shares worth RM166.23 mil versus 911.09 million shares worth RM173.08 mil on Wednesday.
Consumer products and services accounted for 291.68 million shares traded on the Main Market, industrial products and services (244.11 million), construction (104.48 million), technology (147.0 million), SPAC (nil), financial services (56.84 million), property (194.99 million), plantations (114.36 million), REITs (10.20 million), closed/fund (20,300), energy (307.70 million), healthcare (45.17 million), telecommunications and media (30.60 million), transportation and logistics (29.60 million), and utilities (66.47 million). – March 5, 2020, Bernama
