BURSA Malaysia’s barometer index pared gains at closing after glove counters turned lower on profit-taking.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.60 points to 1,534.23 from Wednesday’s close of 1,532.63.
The market bellwether opened 0.71 of-a-point higher at 1,533.34 and moved between 1,531.84 and 1,541.11 throughout the morning trading session.
On the broader market, gainers outpaced losers 556 to 373, while 421 counters were unchanged, 815 untraded, and nine others suspended.
Turnover surged to 7.18 billion units valued at RM3.47 bil from 4.65 billion units valued at RM2.67 bil yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said gains were somewhat limited as investors awaited two major events.
“First is the Organisation of Petroleum Exporting Countries and allies (OPEC+) meeting, which will discuss whether to further ease output cuts amid anticipation of economic recovery.
“With investors probably focusing on the positive side, whereby OPEC will likely be able to balance between supply and demand, the Bursa Malaysia Energy index was the biggest gainer during the day, rising 2.4%,” he told Bernama.
He said the other event is the US jobs report for June, whereby any improvement will serve as proof that the US economy is picking up.
Regionally, stocks were lower amid worries over the virulent Delta variant, which is still ravaging the world.
Among them, Singapore’s Straits Times Index slipped 0.20% to 3,124.19, Japan’s Nikkei lost 0.29% to 28,707.04, and Hong Kong’s Hang Seng Index was 0.57% weaker at 28,827.95.
At home, heavyweights Top Glove Corporation Bhd dropped 10 sen to RM4.07, Hartalega Holdings Bhd declined 21 sen to RM7.14, Press Metal Aluminium Holdings Bhd decreased three sen to RM4.75, and Tenaga Nasional Bhd (TNB) was four sen lower at RM9.75.
Conversely, IHH Healthcare Bhd gained nine sen to RM5.56, Sime Darby Plantation Bhd rose eight sen to RM4.06, while Axiata Group Bhd and DiGi.Com Bhd each increased four sen to RM3.78 and RM4.17 respectively
Of the actives, Serba Dinamik Holdings Bhd improved five sen to 38 sen, Sarawak Consolidated Bhd rose 23.5 sen to 75 sen, and KPower Bhd added 19 sen to 90.5 sen. – July 1, 2021
