KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
KUALA LUMPUR (June 19): The FBM KLCI managed to crawl back above the 1,500-level to end the week at 1,507.26 points after it hit an intraday low of 1,496.76 points.
The index went up barely 2.35 points or 0.16% despite the news of a new breakthrough in trade talks between China and the US.
For the week, the benchmark index dropped 38.76 points or 2.51%, the largest percentage drop in seven weeks, amid absence of fresh buying impetus to sustain the upward momentum.
Trading volume came in at 6.32 billion shares worth some RM4.92 billion, while gainers led losers by 610 to 400.
Among the 30 KLCI constituents, gainers were led by Petronas Dagangan
Bhd, up RM1.10 or 5.22% to close at RM22.16 today, followed by Top
Glove Corp Bhd which rose 70 sen or 4.8% to RM15.40 and Hartalega
Holdings Bhd which was up 58 sen to RM12.08.
The gains among the rubber glove stocks made the Bursa Malaysia Healthcare Index the best performer among all sectors. The index climbed 71.96 points or 3.3% to 2,274.17 points today.
Other gainers across the local bourse included Allianz Malaysia Bhd, which was up 64 sen or 4.43% to RM15.08, and QL Resources Bhd, which went up 60 sen or 6.52% to RM9.80.
The most active stock was Prestariang Bhd, with a trading volume of some 280.99 million shares, soaring to its 52-week high of 59 sen in the morning session. The counter closed at 54.5 sen, up 12.4% for the day.
Globally, Bloomberg reported that global stocks rose with US futures as investors cheered the latest breakthrough in trade negotiations between America and China and stimulus talks in Europe.
China was reportedly planning to accelerate purchases of American farm goods to comply with the phase one trade deal with the US following talks in Hawaii.
Nevertheless, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire later today, investors were bracing for potential bouts of volatility.
“The quarterly event, known as quadruple witching, usually coincides with a rebalancing of major indices and can spark some of the busiest trading days of the year,” it said.
Source: The Edge
The gains among the rubber glove stocks made the Bursa Malaysia Healthcare Index the best performer among all sectors. The index climbed 71.96 points or 3.3% to 2,274.17 points today.
Other gainers across the local bourse included Allianz Malaysia Bhd, which was up 64 sen or 4.43% to RM15.08, and QL Resources Bhd, which went up 60 sen or 6.52% to RM9.80.
The most active stock was Prestariang Bhd, with a trading volume of some 280.99 million shares, soaring to its 52-week high of 59 sen in the morning session. The counter closed at 54.5 sen, up 12.4% for the day.
Globally, Bloomberg reported that global stocks rose with US futures as investors cheered the latest breakthrough in trade negotiations between America and China and stimulus talks in Europe.
China was reportedly planning to accelerate purchases of American farm goods to comply with the phase one trade deal with the US following talks in Hawaii.
Nevertheless, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire later today, investors were bracing for potential bouts of volatility.
“The quarterly event, known as quadruple witching, usually coincides with a rebalancing of major indices and can spark some of the busiest trading days of the year,” it said.
Source: The Edge
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