Bursa Malaysia ends higher on strong Q3 GDP
KUALA LUMPUR, Nov 17 — Bursa Malaysia ended higher today, as the stronger-than-expected third quarter (Q3) gross domestic product (GDP) released today injected more investor confidence into the local market.
Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the Q3 GDP, which climbed 6.2 per cent from 4.3 per cent in the same period last year, was the best result since three years ago.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.55 points or 0.20 per cent to 1,721.66 from 1,718.11 on Thursday.
The index opened 2.7 points better at 1,720.81 and moved between 1,719.87 and 1,725.69 throughout the day.
On the broader market, gainers led losers 419 to 408, with 419 counters unchanged, 609 untraded and 21 others suspended.
Volume, however, narrowed to 2.21 billion units worth RM2.22 billion from 2.44 billion units worth RM2.47 million on Thursday.
In a statement today, Bank Negara Malaysia said given the continued strong performance in 3Q17, Malaysia’s economy was on course to register close to the upper range of the official projection of 5.2 to 5.7 per cent in 2017, supported by domestic demand.
Nazri Khan told Bernama that the firm economic data reflected the government’s ambition of capitalising on the digital economy, which subsequently buoyed digital-linked stocks such as KESM and DGB Asia.
KESM was one of the top gainers today, with the share increasing 24 sen to RM19.18, while DGB Asia was one of the top active counters traded, with the share rising three sen to 14 sen and its warrant was half-a-sen better at three sen.
Nazri Khan added that the uptrend on the local market barometer was also in tandem with the positive performance of major bourses in Asia following the rally on the overnight Wall Street.
Regionally, Singapore’s Straits Times Index rose 41.02 points or 1.23 per cent to 3,382.32, Japan’s Nikkei 225 Index gained 45.68 points or 0.20 per cent to 22,396.80, and Hong Kong’s Hang Seng was 180.28 points or 0.62 per cent firmer at 29,199.04.
Among heavyweights, Maybank increased one sen to RM9.22, Tenaga was unchanged at RM14.84, but Public Bank retreated six sen to RM20.38, Sime Darby fell three sen to RM8.97 and Petronas Chemicals was one sen lower at RM7.29.
Of the actives, newly ACE market-listed company Kejuruteraan Asastera continued its rally to top the list of the most active counters. It ended five sen higher at 30 sen.
Hibiscus gained 1.5 sen to 77.5 sen, while PUC, Trive Property and DGSB were flat at 20.5 sen, eight sen and 8.5 sen, respectively.
Genting Bhd led the list of top gainers, bagging 28 sen to RM9.20, while top loser Nestle lost RM1.60 to RM89.90.
Sector-wise, the Finance Index climbed 11.09 points to 16,051.37, the Plantation Index edged up 6.12 points to 7,908.53 but the Industrial Index was 29.85 points lower at 3,137.97.
The FBM Emas Index improved 12.93 points to 12,416.92, the FBMT 100 Index perked 9.16 points to 12,063.28, the FBM Ace advanced 67.18 points to 6,591.58.
The Main Market volume narrowed to 1.20 billion units worth RM2.03 billion against 1.59 billion units worth RM2.34 billion on Thursday.
Volume on the ACE Market widened to 778.47 million shares valued at RM163.47 million from 584.14 million shares valued at RM99.78 million previously.
Warrants volume eased to 224.39 million worth RM25.33 million versus 254.33 million units worth RM27.19 million yesterday.
Consumer products accounted for 48.25 million shares traded on the Main Market, industrial products (322.20 million), construction (74.24 million), trade and services (428.98 million), technology (163.83 million), infrastructure (10.10 million), SPAC (602,200), finance (41.47 million), hotels (4.07 million), properties (85.08 million), plantations (12.72 million), mining (4,000), REITs (11.15 million), and closed/fund (nil).
Meanwhile, in a filing to Bursa Malaysia today, Zecon Bhd said Bursa Malaysia Securities Bhd had approved the company’s request for suspension of trading of its securities from 2.30 pm today until 5 pm on Nov 20, 2017, pending the release of a material announcement.
Zecon share price closed 6.5 sen higher at 79.5 sen today, with 9.61 million shares traded. — Bernama
Source: The Malay Mail Online