KUALA LUMPUR: Bursa Malaysia remained in positive territory at mid-afternoon, buoyed by feel-good factors such as higher crude oil prices and the re-opening of businesses throughout the globe.
At 3.05 pm, benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 10.22 points, or 0.73%, to 1,413.66 from 1,403.44 at last Friday’s close.
The index opened 5.95 points firmer at 1,409.39.
Market breadth stayed positive, with gainers edging losers 585 to 335, while 351 counters were unchanged, 604 untraded and 17 others suspended.
Turnover stood at an overwhelming 8.16 billion worth RM2.96 bil, supported by buying interest in the lower liners.
A dealer said crude oil prices which surged over US$30 per barrel for the first time since March this year, along with the re-opening of businesses across the world had restored investors’ confidence.
As at 3.39 pm, the benchmark Brent crude climbed 3.94% higher at US$33.78.
Of the heavyweights, IOI Corp advanced 15 sen to RM4.14, Petronas Chemicals rose 11 sen to RM5.67, Digi bagged 10 sen to RM4.49, Maybank was six sen better at RM7.46 and Petronas Dagangan increased 48 sen to RM20.16.
The active counters continued to be dominated by energy-linked stocks led by Icon Offshore which gained five sen to 12.5 sen, Bumi Armada accumulated six sen to 25.5 sen, Velesto was three sen higher at 17 sen, KNM added 5.5 sen to 23.5 sen and Sapura Energy ticked up 1.5 sen to 10.5 sen.
Topping the top gainers’ list was United Plantations which leapt 92 sen to RM26.48 while top loser F&N erased 20 sen to RM31.50.
On the index board, the FBM Emas Index soared 114.43 points to 9,982.49, the FBMT 100 Index increased 105.01 points to 9,821.12, the FBM Emas Shariah Index leapt 155.55 points to 11,289.60.
The FBM ACE rose 19.28 points to 5,409.38 and the FBM 70 surged 270.20 points to 12,261.61.
Sector-wise, the Energy Index was 87.32 points firmer at 843.68 and the Financial Services Index increased 66.91 points to 12,334.12.
The Industrial Products and Services Index inched up 1.42 points to 122.30 and the Plantation Index expanded 100.61 points to 6,297.77. – May 18, 2020, Bernama
