KUALA LUMPUR: Bursa Malaysia turned constructive on Tuesday after a broad restoration rally, due to window-dressing activities and risk-on mode.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) superior 14.52 factors or 0.98 per cent to 1,497.97 from 1,483.45 at Monday’s shut.
The market recovered a lot of the losses recorded yesterday, which noticed the index hitting its lowest in 13 months.
The market bellwether opened 1.49 factors higher at 1,484.94 and reached its intraday low of 1,484.35 earlier.
On the broader market, gainers led decliners 645 to 320, whereas 404 counters have been unchanged, 917 untraded and 20 others suspended.
Turnover elevated to 4.29 billion items valued at RM2.25 billion from Monday’s 3.66 billion items valued at RM2.57 billion.
Rakuten Trade Sdn Bhd vice-president of fairness analysis Thong Pak Leng stated the market was principally lifted by banking and gaming heavyweights.
Key regional indices together with FBM KLCI ended larger on dwindling worries concerning the financial affect of the Omicron variant.
Yesterday Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz stated Malaysia is on monitor to attain financial development of three to 4 per cent this yr regardless of the emergence of the brand new variant.
Tengku Zafrul stated exports had gone up by 25 per cent within the first 10 months of this yr in comparison with final yr.
Meanwhile, buyers cheered China’s newest financial information, which noticed exports beat expectations and its authorities pledged measures to shore up the economic system.
China’s exports elevated 22 per cent year-on-year whereas imports jumped 31.7 per cent.
In addition, the oil market’s enchancment helped to spice up sentiment with Brent crude hovering close to US$75 per barrel.
However, Thong stated he stays cautious on the market outlook regardless of the bargain-hunting immediately.
At house, heavyweights Public Bank and Maybank gained 11 sen to RM3.99 and RM8.10 respectively.
Axiata was 14 sen stronger at RM3.79, MISC went up 10 sen to RM6.46 and Petronas Chemicals rose 13 sen to RM8.44.
Top Glove misplaced seven sen to RM2.50, whereas Hartalega
slid 35 sen to RM5.74.
Of the actives, Kanger trimmed one sen to 2.0 sen and Sapura Energy eased 3 sen to five.0 sen, whereas Green Ocean and XOX have been flat at 3.0 sen every.
On the index board, the FBM Emas Index superior 98.75 factors to 10,908.69, the FBMT 100 Index bagged 94.22 factors to 10,613.15, and the FBM Emas Shariah Index was 63.8 factors larger at 11,774.83.
The FBM 70 improved 90.47 factors to 14,063.36 and the FBM ACE edged ticked up 52.68 factors to six,265.70.
Sector-wise, the Industrial Products and Services Index inched up 2.31 factors to 193.37, the Financial Services Index climbed 196.24 factors to fifteen,163.95 and the Plantation Index added 31.75 factors to six,425.90.
The Main Market quantity expanded to 2.22 billion shares valued at RM1.98 billion versus Monday’s 1.98 billion shares valued at RM2.27 billion.
Warrants turnover dwindled to 365.83 million items price RM62.64 million in opposition to 371.27 million items price RM51.85 million.
The quantity on the ACE Market rose to 1.47 billion shares valued at RM204.95 million from 1.19 billion shares valued at RM238.94 million beforehand.
Consumer services and products counters accounted for 312.61 million shares traded on the Main Market, industrial services and products (524.55 million), development (70.45 million), expertise (282.01 million), SPAC (nil), monetary companies (68.83 million), property (76.42 million), plantation (10.10 million), REITs (6.06 million), closed/fund (10,000), power (653.53 million), healthcare (134.45 million), telecommunications and media (30.03 million), transportation and logistics (23.46 million), and utilities (24.83 million). – Reuters
