Bursa Malaysia ends firmer on buying support in index-linked counters

KUALA LUMPUR, May 27 — Persistent buying momentum in the index-linked counters, led by glove makers Hartalega and Top Glove, pushed Bursa Malaysia to end the day on a firm note, dealers said.

After being closed for two days, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 114.97 points, or 1.04 per cent, to 1,451.73 from 1,436.76 at Friday’s close.

The index opened 10.15 points higher at 1,446.91 and moved between 1,446.42 and 1,458.24 throughout the day.

Hartalega bagged 88 sen to RM10.88 while Top Glove earned RM1.04 to RM12.86. Both stocks contributed a combine 10.465 points to the rise in the composite index.

The local market was closed on Monday and Tuesday for the Hari Raya Aidilfitri holiday.

A dealer said buying in the local market was spurred by positive market sentiment on mounting hopes of global economic recovery over the development of COVID-19 vaccines, coupled with the revival of business activities in the United States and other countries.

The overall market breadth on Bursa Malaysia remained positive, with gainers leading losers 582 to 406, while 397 counters were unchanged, 510 untraded and 24 others suspended.

Total volume increased to 7.19 billion shares worth RM4.78 billion from 6.68 billion units worth RM4.19 billion on Friday.

Among heavyweights, IHH bagged two sen to RM5.45, Petronas Chemicals gained 1.5 sen to RM6.05, while Tenaga was flat at RM12.20.

Maybank slipped three sen to RM7.40 and Public Bank eased two sen to RM15.24.

Of actives, Sanichi improved three sen to nine sen, XOX perked 1.5 sen to 6.5 sen, Key Alliance gained one sen to 8.5 sen, and GD Express expanded 7.5 sen to 44.5 sen.

On the index board, the FBM Emas Index soared 126.7 points to 10,303.82, the FBMT 100 Index increased 125.06 points to 10,150.39, and the FBM Emas Shariah Index advanced 233.49 points to 11,853.83.

The FBM 70 chalked up 242.3 points to 12,937.46 and the FBM ACE edged up 163.95 points to 5,551.74.

Sector-wise, the Plantation Index was 84.83 points higher at 6,807.68, the Industrial Products and Services Index added 2.0 points to 126.39, while the Financial Services Index fell 30.4 points to 12,350.33.

Main Market volume decreased marginally to 4.29 billion shares worth RM4.26 billion from 4.88 billion shares worth RM3.77 billion on Friday.

Warrants turnover narrowed to 624.97 million units valued at RM163.79 million from 806.49 million units valued at RM177.84 million.

Volume on the ACE Market ballooned to 2.28 billion shares worth RM357.37 million from 993.18 million shares worth RM233.89 million previously.

Consumer products and services accounted for 394.56 million shares traded on the Main Market, industrial products and services (751.15 million), construction (431.57 million), technology (635.88 million), SPAC (nil), financial services (78.24 million), property (214.46 million), plantations (164.72 million), REITs (9.92 million), closed/fund (5,100), energy (926.52 million), healthcare (125.81 million), telecommunications and media (191.94 million), transportation and logistics (326.53 million), and utilities (39.58 million). — Bernama