Bursa Malaysia Ends Higher On Gains In Selected Heavyweights

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KUALA LUMPUR, Apr 12 – Bursa Malaysia closed firmer today lifted by gains in Petronas Chemicals and Genting-related counters while the broader market was weaker, in line with the cautious key Asian markets due to rising geopolitical risks, dealers said. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) finished 8.24 points higher at 1,744.08, from yesterday’s close of 1,735.84.

The key index opened 0.01 of-a-point lower at 1,735.83 and hovered between 1,735.06 and 1,744.08 throughout the day. Market breadth was negative with 506 losers and 427 gainers, while 349 counters were unchanged, 457 untraded and 15 others suspended. Volume decreased to 4.08 billion units worth RM2.4 billion from yesterday’s 4.22 billion units worth RM2.57 billion.

Petronas Chemicals perked 17 sen to RM7.80, Genting Bhd chalked up 19 sen to RM9.51 while Genting Malaysia Bhd added six sen to RM5.55. On the broader market, sentiment remained weak as traders remained cautious over external development especially the geopolitical risks in Syria and North Korea.

“Tensions are rising over North Korea, which threatened the US against making any military moves after it sent aircraft carrier to the divided Korean Peninsula. Meanwhile, US Secretary of State Rex Tillerson arrived in Moscow with the aim of persuading Russia to ditch its ally Syria following last week’s chemical attack,” a dealer said.

On the local front, the FBM Emas Index jumped 48.67 points to 12,440.74, FBMT100 Index chalked up 50.49 points to 12,068.56 and the FBM 70 rose 37.02 points to 14,754.67. The FBM Ace decreased 8.68 points to 6,205.09 but the FBM Emas Shariah Index perked 50.94 points to 12,918.63.

Sector-wise, the Finance Index put on 8.36 points to 15,697.14, the Industrial Index went up 14.70 points to 3,269.92 and the Plantation Index rose 10.04 points to 8,075.6. Of the other heavyweights, Public Bank and Sime Darby lost two sen each to RM19.96 and RM9.30, respectively, IHH Healthcare gained two sen to RM6.04 while Axiata rose 11 sen to RM5.19.

Maybank and TNB were flat at RM8.98 and RM13.72 respectively. Among actives, Malayan United lost three sen to 25 sen and Key Alliance slipped half-a-sen to 7.5 sen. Dayang Nexchange inched up half-a-sen to 48 sen, Privasia Technology added two sen to 21 sen, and AT Sytematization was flat at five sen.

Main Market turnover decreased to 2.44 billion units worth RM2.19 billion from yesterday’s 3.0 billion units worth RM2.39 billion. Volume on the ACE Market rose to 1.4 billion shares valued at RM185.97 million from Tuesday’s 1.02 billion shares valued at RM152.77 million. Warrants contracted to 156.24 million units worth RM22.58 million from 193.32 million units worth RM23.76 million previously.

Consumer products accounted for 119.65 million shares traded on the Main Market, industrial products (569.77 million), construction (128.81 million), trade and services (998.05 million), technology (208.85 million), infrastructure (9.48 million), SPAC (22.92 million), finance (67.22 million), hotels (10.56 million), properties (276.2 million), plantations (29.69 million), mining (3,000), REITs (6.47 million) and closed/fund (2,000). The physical price of gold as at 5pm stood at RM175.57 per gramme, up RM2.31 from RM173.26 at 5pm yesterday. —  Bernama

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