KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (March 29): The FBM KLCI fell 4.01 points or 0.2% on index-linked British American Tobacco (M) Bhd (BAT) and Petronas-related share losses.
BAT shares fell on speculation Malaysia may raise cigarette prices, a move which could affect BAT's sales volume. Petronas Dagangan Bhd and Petronas Gas Bhd shares declined on profit taking after both stocks rose yesterday.
At 5pm today, the KLCI closed at 1,750.41 points. BAT shed RM2.46 to RM45.44, Petronas Dagangan dropped 94 sen to RM23.90 while Petronas Gas was 16 sen lower at RM19.80.
BAT was Bursa Malaysia's top decliner. Petronas Dagangan and Petronas Gas were the second and eighth-largest decliners respectively.
“There was a knee-jerk reaction on BAT as a deputy minister had suggested that cigarette prices may be increased to RM21.50 per pack, while everyone will be monitoring how Petronas Dagangan will adjust to the weekly ceiling price (for petrol),” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
Across Bursa Malaysia, 3.4 billion shares worth RM2.63 billion were traded. Gainers outpaced decliners at 522 versus 402 respectively.
Source: The Edge
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