BURSA Malaysia soared on Tuesday, led by plantation and banking counters.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at its intra-day high of 1,553.37, after increasing by 30.94 points from Monday’s close of 1,522.43.
The market bellwether opened 1.78 points higher at 1,524.21 and fluctuated between 1,522.81 and 1,553.37.
Market breadth remained positive with gainers surpassing decliners 811 to 319, while 390 counters were unchanged, 699 untraded and six others suspended.
Turnover increased to 4.55 billion shares worth RM3.15 bil from 4.21 billion shares worth RM2.15 bil on Monday.
An analyst said gains were seen across the board amidst strong market interest and improved sentiment.
He said the bullish crude oil and crude palm oil (CPO) prices as well as the relaxed domestic lockdown measures are contributing to the uptick in the domestic market.
At press time, oil benchmark Brent crude price rose to above US$69 per barrel, while CPO’s benchmark stood at RM4,316 per tonne at Monday’s closing.
The market was also boosted by a rally in regional bourses and reduced worries about tapering of the US Federal Reserve, which had raised hopes for faster global economic recovery.
Still, investors will closely monitor the United States’ Jackson Hole symposium on Thursday, which may offer clues on timeline of the tapering exercise.
At home, banking heavyweights Public Bank Bhd advanced 17 sen to RM4.11, while Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd gained 15 sen to RM8.32 and RM4.83 respectively.
Hong Leong Bank Bhd jumped 60 sen to RM19.00 and Hong Leong Financial Group Bhd climbed 70 sen to RM18.02.
In the plantation sector, Sime Darby Plantation Bhd was 25 sen stronger at RM4.16 and IOI Corp Bhd was 14 sen better at RM3.89.
Among the actives, VSolar Group Bhd was flat at 1.5 sen, D’nonce Technology Bhd dropped 3.5 sen to 57 sen and MMAG shed one sen to 11.5 sen. – Aug 24, 2021
