Bursa Malaysia rises 1.66% on mild 1Q-end window dressing

KUALA LUMPUR: Bursa Malaysia wrapped up the first quarter of 2020 on a positive note, lifted by some mild quarter-end window dressing seen across the board.

Rakuten Trade Sdn Bhd vice-president of research Vincent Lau said the local bourse was also tracking the uptrend of its regional peers.

At 5 pm, the FBM KLCI soared 22.01 points, or 1.66%, to close at 1,350.89 from 1,328.88 at Monday’s close.

The key index opened 7.72 points stronger at 1,336.60 at 9 am today and hovered between 1,335.91 and 1,352.20.

Market breadth was overwhelmingly positive with gainers outpacing losers 708 to 185, while 288 counters were unchanged, 817 untraded and 96 others suspended.

Turnover widened to 3.52 billion shares worth RM2.87 bil compared with 2.83 billion shares worth RM1.86 bil on Monday.

Commenting on today’s performance, Lau said the rebound could be a relief rally as volatility is seen to remain high.

“Market sentiment could turn sour amid the struggling crude oil prices, along with the rising number of Covid-19 cases particularly in the United States,” he added.

Regionally, Singapore’s Straits Times Index jumped 2.69% to 2,481.23, Hong Kong’s Hang Seng Index advanced 1.85% to 23,603.48 and South Korea’s Kospi Index was 2.19% stronger at 1,754.64.

Among the FBM KLCI’s 30 counters, Petronas Chemicals rose 30 sen to RM5.05, Sime Darby Plantation increased 29 sen to RM4.94, Maybank bagged 14 sen to RM7.45, Tenaga was 22 sen higher at RM12.02 and Petronas Dagangan surged RM1.04 to RM21.16.

Of the most actively traded counters, Armada and Sapura Energy edged up half-a-sen each to 13.5 sen and eight sen respectively, Hibiscus accumulated 2.5 sen to 34 sen, Sanichi lost half-a-sen to 4.5 sen while Pegasus Heights was flat at five sen.

Top gainers included Dutch Lady which firmed RM1.26 to RM43.30, while Nestle garnered 70 sen to RM136.70, Kuala Lumpur Kepong strengthened 66 sen to RM20.76, F&N perked 50 sen to RM31.02 and Panasonic Manufacturing Malaysia was 40 sen higher at RM26.88.

On the index board, the FBM Emas Index improved 159.40 points to 9,239.81, the FBM Emas Shariah Index accumulated 196.12 points to 10,105.08 while the FBMT 100 Index climbed 148.78 points to 9,166.52.

The FBM 70 surged 168.93 points to 10,550.56 and the FBM Ace was 198.34 points stronger at 3,981.81.

Sector-wise, the Industrial Products and Services Index edged up 3.77 points to 107.60, the Financial Services Index leapt 133.93 points to 12,270.67 and the Plantation Index was 208.96 points higher at 6,252.13.

Main Market volume expanded to 2.60 billion shares valued at RM2.63 bil versus 1.82 billion shares valued at RM1.64 bil on Monday.

Warrants turnover was higher at 328.13 million units worth RM84.10 mil compared with 290.31 million units worth RM92.63 mil yesterday.

Volume on the ACE Market, however, contracted to 590.30 million shares valued at RM158.33 mil against 718.09 million shares worth RM120.46 mil yesterday.

Consumer products and services accounted for 373.98 million shares traded on the Main Market, industrial products and services (384.50 million), construction (196.45 million), technology (353.0million), SPAC (nil), financial services (83.55 million), property (258.68 million), plantations (64.84 million), REITs (12.62 million), closed/fund (4,000), energy (620.88 million), healthcare (55.38 million), telecommunications and media (70.47 million), transportation and logistics (96.66 million), and utilities (34.41 million). – March 31, 2020, Bernama

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