Bursa Malaysia rebounds on bargain hunting at final hour


KUALA LUMPUR: Bursa Malaysia rebounded to finish marginally larger because of bargain-hunting actions in the course of the final hour of buying and selling, stated an analyst.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.02 per cent or 0.23 of-a-point to 1,515.99 from 1,515.76 at Wednesday’s shut.

The key index which opened 0.72 of-a-point larger at 1,516.48, moved between 1,510.64 and 1,518.61 in the course of the buying and selling session.

The total market breadth was nonetheless damaging with losers outpacing gainers 589 to 329, whereas 395 counters have been unchanged, 947 untraded, and 31 others suspended.

Total turnover declined to 2.22 billion items valued at RM1.77 billion versus Wednesday’s 2.36 billion items price RM1.84 billion.

Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng stated key regional indices in the meantime closed largely decrease as traders weighed the probability that the US Federal Reserve would elevate rates of interest in March.

Elsewhere, geopolitical rigidity surrounding Russia exerted extra draw back strain on fairness markets globally.

“As for the native bourse, we reckon investor sentiment will stay gentle for a brief interval because of the abovementioned components, therefore, we anticipate the index to development across the 1,510-1,520 vary in the direction of the weekend,” he instructed Bernama.

Gainers have been led by Kuala Lumpur Kepong which added 22 sen to RM21.72, Nestle which gained 20 sen to RM133.00 and Hartalega

Among different heavyweights, Maybank was flat at RM8.30, Public Bank added one sen to RM4.21, Petronas Chemical fell two sen to RM8.90, IHH improved two sen to RM6.38 whereas CIMB eased one sen to RM5.25.

As for essentially the most actives, DNeX was down 2.5 sen to 92 sen, Hibiscus Petroleum rose 9 sen to 97 sen, and Dataprep Holdings

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