Bursa Malaysia mixed over last-minute bargain hunting

An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. — Reuters picAn investor monitors share market prices at a brokerage firm in , , August 24, 2015. — Reuters picKUALA LUMPUR, May 15 — Bursa Malaysia ended mixed today as some bargain hunting activities emerged 10 minutes before closing to push the key market bellwether into positive territory.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed at its intraday high, adding 2.78 points to 1,778.65 from last Friday’s close of 1,775.87.

After opening 0.47 of-a-point lower at 1,775.4 this morning, the benchmark index also touched a low of 1,771.87.

On the broader market, losers outpaced gainers 508 to 421, with 372 counters unchanged, 460 untraded and 20 others were suspended.

Volume increased to 3.74 billion units valued at RM2.99 billion from 2.70 billion units valued at RM2.17 billion recorded last Friday.

A dealer said some traders decided to take advantage of the cheap quality stocks following earlier losses, however, gains were capped by persistent selling in finance stocks.

“Furthermore, market sentiment was also lifted by higher global oil prices,” he said.

International benchmark, crude rose US$1.20 to US$52.04 a barrel.

Among heavyweights, Maybank, and Sime Darby were all flat at RM9.38, RM19.98 and RM9.33, respectively, while TNB added 10 sen to RM14 and Petronas Chemicals gained four sen to RM7.27.

As for actives, Iskandar Waterfront surged 49 sen to RM2.13, Dagang Nexchange fell 5.5 sen to 57 sen and Globaltec eased half-a-sen to 5.5 sen.

The FBM Emas Index rose 29.09 points to 12,747.19, the FBMT100 Index increased 27.34 points to 12,375.34 and the FBM Emas Shariah Index was 41.14 points higher at 13,099.07.

The FBM 70 improved 63.87 points to 15,383.78 and the FBM Ace advanced 52.3 points to 6,490.56.

Sector-wise, the Finance Index fell 3.42 points to 16,407.73, the Plantation Index declined 6.05 points to 8,106.74 and the Industrial Index was 2.81 points better at 3,262.02.

Main Market turnover widened to 2.63 billion units worth RM2.79 billion from 1.59 billion units worth RM2.01 billion recorded last Friday.

Volume on the ACE Market declined to 838.43 million units valued at RM158.41 million from 842.50 million units valued at RM125.84 million.

Warrants fell to 259.97 million units valued at RM37.33 million from RM 265.48 million units valued at RM34.43 million last week.

Consumer products accounted for 170.43 million shares traded on the Main Market, industrial products (699.04 million), construction (245.4 million), trade and services (915.93 million), technology (90.86 million), infrastructure (8.71 million), SPAC (3.26 million), finance (78.96 million), hotels (679,600), properties (397.09 million), plantations (15.46 million), mining (10,800), REITs (11.96 million), and closed/fund (395,700). — Bernama

Source: The Malay Mail Online

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