KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
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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