KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
KUALA LUMPUR (Nov 26): The FBM KLCI finished down 7.48 points or 0.47% at 1,583.87 today, as factors including lower crude palm oil (CPO) prices weighed on local share market sentiment.
Share-trade value across Bursa Malaysia rose significantly to RM4.21 billion, as volume increased to above three billion shares, contributed partly by Solarvest Holdings Bhd's impressive debut on Bursa's ACE Market.
Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew said share prices of big market capitalisation plantation companies dived, as lower CPO prices dented market sentiment. Malaysia CPO for Jan 2020 fell RM73 to RM2,631 a tonne at 5:15pm.
"Solarvest was a big feature for today's trade but elsewhere, it's a rather boring day. It's a mixed day across the region, it looks like the markets lost some motivation, despite the latest US-China trade talk progress," he told theedgemarkets.com.
Solar photovoltaic company Solarvest's share price rose as much as 41 sen or 117% to 76 sen, before paring gains.
At 5pm, Solarvest finished at 75.5 sen with some 263 million shares traded, to become Bursa's top-active stock. Solarvest also ended among the exchange's top gainers.
Across Bursa today, turnover stood at 3.41 billion shares, worth RM4.21 billion. Yesterday, turnover stood at 2.52 billion shares, worth RM1.54 billion.
Today, a glance across Bursa's top-active stocks may turn investors' attention to Sime Darby Property Bhd, S P Setia Bhd and Alliance Bank Malaysia Bhd. These stocks ended up possibly in conjunction with their inclusion into the MSCI Global Small Cap Indexes' MSCI Malaysia Index at market close today (Nov 26).
Sime Darby Property rose two sen or 2.61% to 78.5 sen, while SP Setia added two sen or 1.6% to RM1.27. Alliance Bank climbed three sen or 1.14% to RM2.66.
Source: The Edge
Comments
Post a Comment