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 1): The FBM KLCI settled up 0.58% today, tracking gains in China and Hong Kong and supported by bargain hunting activities after yesterday’s sell-off.
At 5pm, the benchmark index rose 9.13 points to settle at 1,582.64 points, with gains led by Supermax Corp Bhd, Genting Bhd and Top Glove Corp Bhd.
Across Bursa Malaysia, 787 counters were gainers against 354 decliners while 402 counters traded unchanged. By sector, the biggest gainers were property (2.3%), technology (2.29%) and construction (1.69%).
Areca Capital CEO Danny Wong Teck Meng suggested that partial rebound may be prompted by overnight gains in Nasdaq, coupled with the positive manufacturing data from China for March.“Investors may also revisit Bank Negara Malaysia’s positive outlook on Malaysia’s economy which took the back seat when it was first announced on Monday due to the weak regional market sentiment at the time,” Wong said.
It was reported that China’s March manufacturing data rebounded in March to 51.9% — its highest this year and putting the sector in expansion territory for 13 months in a row.
The Shanghai Composite index rose 0.71% while the Shenzhen Composite index rose 1.11% and Hong Kong’s Hang Seng Index rose 1.97%.
On Monday, Bank Negara Malaysia on Monday revised its 2021 GDP growth forecast to 6%-7.5% from 6.5%-7.5%, but also pointed to recovery to pre-pandemic levels by the middle of this year.
At home, top gainers included ViTrox Corp Bhd (up 74 sen or 4.95% to RM15.68), Nestle (M) Bhd (up 50 sen or 0.37% to RM135.50) and Fraser & Neave Holdings Bhd (up 44 sen or 1.47% to RM30.44).
Top decliners were Heineken M Bhd (down 36 sen or 1.4% to RM25.44), Dataprep Holdings Bhd (down 21 sen or 11.54% to RM1.61) and Cheetah Holdings Bhd (down 17 sen or 6.07% to RM1.61).
The top actives were Berjaya Corp Bhd (down 2 sen or 4.4% to 43.5 sen), JKG Land Bhd (up 2 sen or 19.05% to 12.5 sen) and Yong Tai Bhd (up 2.5 sen or 9.43% to 29 sen).
Elsewhere in Asia, markets were largely in the green, with the Singapore STI rising 0.52%, while Japan's Nikkei 22.5 rose 0.28% and South Korea’s Kospi rose 0.85%.
Source: The Edge
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