Home Business Bursa Malaysia ends higher, breaches 1,300 level

Bursa Malaysia ends higher, breaches 1,300 level

Bursa Malaysia ends higher, breaches 1,300 level 1

KUALA LUMPUR: Bursa Malaysia closed the day higher, with the benchmark index finally breaching the 1,300-level, as gains in regional bourses boosted market sentiment.

At the close, the FTSE Bursa Malaysia (FBM KLCI) surged 83.56 points or 6.85 per cent to 1,303.28 from yesterday’s close of 1,219.72.

After opening 0.82 points higher at 1,220.54 this morning, the benchmark index moved between 1,220.54 and 1,304.55 throughout the day.

Turnover increased to 5.05 billion shares worth RM4.04 billion from 4.16 billion shares worth RM2.86 billion yesterday.

A dealer said local traders took the cue from the gains in regional markets, which were mostly higher as traders found comfort in global policymakers’ efforts to blunt the COVID-19 economic blow by cutting interest rates and pumping liquidity into the markets.

“In Malaysia, BNM has decided to cut the statutory reserve requirement ratio by 100 basis points, which has so far benefitted index-linked banking stocks,” he added.

On the regional front, Singapore’s Straits Times Index was 5.20 per cent higher at 2,431.06, Hong Kong’s Hang Seng Index rose 5.05 per cent to 22,805.07 and South Korea’s KOSPI Composite Index increased 7.44 per cent to 1,566.15.

Among heavyweights, Maybank gained 43 sen to RM7.51, Tenaga added 70 sen to RM12.02, Public Bank jumped RM1.38 to RM14.04, and IHH was two sen higher at RM5.17.

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Of the actives, Sapura Energy gained one sen to 7.5 sen, Bumi Armada added two sen to RM13.5 sen and AirAsia advanced 16 sen to 68 sen.

On the index board, the FBM Emas Index surged 585.00 points to 8,842.78, the FBM 70 gained 694.01 points to 9,888.27 and the FBM Emas Shariah Index garnered 543.64 points to 9,664.14.

The FBMT 100 Index increased by 574.57 points to 8,789.30 and the FBM Ace rose 319.39 points to 3,519.12.

Sector-wise, the Industrial Products and Services Index added 7.23 points to 99.75, the Plantation Index recovered 405.60 points to 5,937.63 and the Financial Services Index was 936.06 points better at 11,821.51.

Main Market volume increased to 3.98 billion shares worth RM3.84 billion from 3.16 billion shares worth RM2.68 billion yesterday.

Warrants turnover rose to 339.74 million units worth RM73.89 million from 336.67 million units worth RM89.22 million.

Volume on the ACE Market was higher at 731.38 million shares worth RM128.28 from 660.22 million shares worth RM93.02 million.

Consumer products and services accounted for 633.85 million shares traded on the Main Market, industrial products and services (456.05 million), construction (357.51 million), technology (480.63 million), SPAC (nil), financial services (149.43 million), property (264.32 million), plantations (90.07 million), REITs (63.44 million), closed/fund (29,000), energy (1.15 billion), healthcare (74.76 million), telecommunications and media (86.73 million), transportation and logistics (98.58 million), and utilities (76.13 million). -Bernama

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