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Wednesday, April 11, 2018

Market Daily Report: KLCI gains as Bursa share volume exceeds four billion amid GE14 certainty





KUALA LUMPUR (April 11): The FBM KLCI rose 8.91 points or 0.5% while volume across Bursa Malaysia exceeded four billion shares amid certainty on Malaysia's 14th general election (GE14) timing.

Yesterday, the Election Commission announced that GE14's polling date will be on May 9 while the nomination date is on April 28. At a press conference, Election Commission chairman Tan Sri Mohd Hashim Abdullah said the election writ would be issued today (April 11) while early voting will be held on May 5.

Today, the Prime Minister's Office said in a statement the Government has declared GE14 polling day on May 9 as an additional public holiday to enable Malaysians to fulfill their obligation as voters.

At 5pm, the KLCI closed at 1,869.89 as Bursa Malaysia's small-cap and technology indices gained 1.43% and 2.07% respectively. Across Bursa Malaysia, 4.65 billion shares worth RM3.21 billion changed hands.

Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that as "GE14's date is now certain, the market is moving ahead strongly.”

Rakuten Trade Sdn Bhd vice president of research Vincent Lau said the "strong momentum seen in the Malaysian stock market is across the board and is led by the small and mid-cap stocks."


Source: The Edge

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