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 (July 23): The FBM KLCI closed up 19.44 points or 1.22% at 1,606.42 today while trade volume across Bursa Malaysia rose past 12 billion securities again this week as the rubber glove- and healthcare-related sectors continued to be a major theme in the local equities market due to the Covid-19 pandemic.
Across Bursa at 5pm, 12.12 billion securities were traded for RM6.65 billion. Gainers outpaced decliners at 599 to 452 respectively.
Trading volume across Bursa rose past 12 billion securities again today after climbing to its record high at 12.5 billion securities on Monday.
Today, Bursa top gainers included KLCI-linked rubber glove manufacturers Top Glove Corp Bhd and Hartalega Holdings Bhd, the share prices of which closed up at their intraday highs.
Leading gainer Top Glove closed up RM1.42 or 5.75% at RM26.12 while Hartalega ended 62 sen or 3.57% higher at RM18.
TA Securities Holdings Bhd technical analyst Stephen Soo said glove counters' price rises lifted the KLCI past the 1,600-point level today.
"This proves that the glove- and healthcare-related sectors [collectively] is still the major theme in the local market," Soo told theedgemarkets.com.
Meanwhile, actively traded stocks across Bursa included Bioalpha Holdings Bhd and newly listed TCS Group Holdings Bhd.
Top active stock Bioalpha registered a volume of some 2.2 billion shares. Its share price closed up 13 sen or 72.22% at 31 sen.
TCS, which was listed on the ACE Market today at 23 sen a share, ended with a volume of about 207 million shares. The stock's price closed up 22 sen or 95.65% at 45 sen.
Globally, it was reported that Asian shares wavered today as investors weighed hopes for more stimulus to support pandemic-stricken economies against a dramatic rise in tensions between the US and China.
Bloomberg reported that European and US equity futures were mixed today along with Asian stocks amid concerns over renewed Sino-US tensions and the uncertainty over the timing of a new American stimulus package.
Reuters reported that Washington's order to Beijing to close its consulate in Houston, Texas amid accusations of spying had weighed on risk sentiment earlier in Asia, pulling shares lower.
It was reported that China said the order was an "unprecedented escalation" by Washington, and a source said Beijing was considering shutting the US consulate in Wuhan in retaliation.
It was reported that US President Donald Trump said that other consulate closures were "always possible"
Source: The Edge
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