KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
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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