KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
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
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