KUALA LUMPUR, July 14 (Bernama) -- Bursa Malaysia extended its rally to close more than one per cent higher on Tuesday, lifted by strong buying interest in oil and gas as well as banking counters as investors positioned for potentially firmer energy prices following renewed hostilities between the United States and Iran. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 21.50 points, or 1.26 per cent, to close at its intraday high of 1,719.94 from Monday’s close of 1,698.44. The benchmark index opened 1.25 points higher at 1,699.69, and slid to its intraday low of 1,698.21 in the early session. On the broader market, losers led gainers 548 to 538, while 585 counters were unchanged, 1,031 untraded, and 22 suspended. Turnover expanded to 3.52 billion units valued at RM2.75 billion from 3.09 billion units valued at RM2.23 billion on Monday.
KUALA LUMPUR, July 14 (Bernama) -- Bursa Malaysia extended its rally to close more than one per cent higher on Tuesday, lifted by strong buying interest in oil and gas as well as banking counters as investors positioned for potentially firmer energy prices following renewed hostilities between the United States and Iran.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 21.50 points, or 1.26 per cent, to close at its intraday high of 1,719.94 from Monday’s close of 1,698.44.
The benchmark index opened 1.25 points higher at 1,699.69, and slid to its intraday low of 1,698.21 in the early session.
On the broader market, losers led gainers 548 to 538, while 585 counters were unchanged, 1,031 untraded, and 22 suspended.
Turnover expanded to 3.52 billion units valued at RM2.75 billion from 3.09 billion units valued at RM2.23 billion on Monday.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said escalating tensions in West Asia, coupled with concerns over potential disruptions to oil supply, boosted energy-related counters and helped sustain positive momentum on Bursa Malaysia.
Across the region, he said Asian equities ended mixed as markets weighed geopolitical risks against expectations for the global monetary policy outlook.
“Bursa Malaysia continued to outperform on the back of its defensive sector composition and strength in commodity-linked stocks,” he told Bernama.
Among heavyweights, Maybank rose six sen to RM11.00, Public Bank added 13 sen to RM5.05, Tenaga Nasional gained 10 sen to RM14.40, and CIMB climbed eight sen to RM7.77, while IHH Healthcare lost two sen to RM8.45.
As for the active stocks, Tanco put on 7.5 sen to 31.5 sen, HHRG was 3.5 sen firmer at 15 sen, Nationgate perked up seven sen to 95.5 sen, while Velesto slid 1.5 sen to 27 sen and Vinvest Capital erased one sen to two sen.
Of the top gainers, Petronas Chemicals jumped 44 sen to RM4.79, Petronas Gas increased 42 sen to RM17.88, Hong Leong Bank garnered 36 sen to RM22.24, while both Fraser & Neave and Press Metal grew 34 sen to RM29.28 and RM8.19, respectively.
Nestle led the losers list, falling RM1.22 to RM90.50, United Plantations dipped 48 sen to RM34.54, Allianz shed 32 sen to RM20.64, Chin Well tumbled 13.5 sen to 68.5 sen, and Frontken and Sunway Construction slipped 10 sen each to RM4.74 and RM7.50, respectively.
Among the broader indices, the FBM Emas Index soared 107.97 points to 12,661.93, the FBMT 100 Index leapt 112.06 points to 12,498.66, and the FBM Emas Shariah Index increased 94.65 points to 12,492.04.
The FBM 70 Index weakened 29.34 points to 17,797.02 and the FBM ACE Index slipped 2.95 points to 4,862.06.
Sector-wise, the Financial Services Index surged 219.43 points to 20,239.50, the Industrial Products and Services Index climbed 4.99 points to 188.51, and the Energy Index put on 0.36 of a point to 773.65, while the Plantation Index declined 19.10 points to 9,368.42.
The Main Market volume expanded to 1.84 billion units valued at RM2.45 billion compared with 1.56 billion units valued at RM1.96 billion on Tuesday.
Warrants turnover improved to 1.12 billion units worth RM135.26 million versus 1.07 billion units worth RM131.26 million previously.
The ACE Market volume swelled to 557.33 million units valued at RM162.70 million from 462.71 million units valued at RM143.73 million yesterday.
Consumer products and services counters accounted for 159.71 million shares traded on the Main Market, industrial products and services (296.57 million), construction (122.62 million), technology (227.31 million), financial services (96.63 million), property (504.56 million), plantation (57.93 million), real estate investment trusts (17.24 million), closed-end fund (10,300), energy (233.24 million), healthcare (53.73 million), telecommunications and media (18.40 million), transportation and logistics (28.80 million), utilities (28.92 million), and business trusts (139,800).
Source: Bernama
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