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 (April 20): The FBM KLCI closed up at the day's high of 1,607.57 despite market sentiments remaining jittery against the backdrop of mixed regional markets after Wall Street retreated overnight.
The benchmark index dropped to its intraday low of 1,591.83 an hour after it opened 0.14 points higher this morning.
However, the index managed to reverse its earlier losses and finish the day 7.28 points or 0.45% higher than yesterday’s close of 1,600.29.
Among the 30 component stocks, Axiata Group Bhd led the pack with a 21 sen or 5.54% advance to close at RM4. Meanwhile, both Genting Bhd and Genting Malaysia Bhd (GenM) closed higher today and erased yesterday’s losses altogether. Genting added 17 sen or 3.57% to RM4.93, while GenM closed up nine sen or 3.17% at RM2.93.
Despite the gains in the local bourse, Rakuten Trade head of equity sales Vincent Lau opined that the brisk trading was mainly contributed by the penny stocks — which are often prone to speculation.
“Overall the broader market sentiments remained fragile, which [is] largely in line with the volatile regional markets,” he noted.
The broader market was mixed with losers leading gainers at 575 to 506, while 413 counters were unchanged. Across Bursa Malaysia, trading volume stood at 8.16 billion securities worth RM4.11 billion.
UCrest Bhd topped the active list on the local bourse, with 989.09 million shares traded, occupying 12% of Bursa's total trading volume. The stock closed up 16 sen or 36.78% at 59.5 sen.
It was followed by Key Asic Bhd, Focus Dynamics Group Bhd, Censof Holdings Bhd, Sedania Innovator Bhd, MNC Wireless Bhd, Macpie Bhd, ARB Bhd, Minda Global Bhd and Bina Puri Holdings Bhd.
Among notable stocks, Bursa's top gainers included KLCI constituents Nestle (M) Bhd, Axiata, Genting and Hong Leong Financial Group Bhd.
Among the losers were Malaysian Pacific Industries Bhd, Heineken (M) Bhd, Greatech Technology Bhd, Hartalega Holdings Bhd, Sedania, D&O Green Technologies Bhd and Press Metal Aluminium Holdings Bhd.
Reuters reported that shares in Asia-Pacific were mixed in Tuesday trade as China kept its benchmark lending rate unchanged, with Japanese stocks leading losses among the region’s major markets.
“Major US averages fell on Monday, dragged down by overall weakness in the technology sector. The Dow Jones Industrial Average lost more than 120 points, dragged down by more than a 1.5% drop in Intel’s stock," it added.
Source: The Edge
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