Bursa firmly in the black at mid-day

Strong positive sentiments continue to drive the Malaysian stock market until the close of morning trade. — Bernama pic
Strong positive sentiments continue to drive the Malaysian until the close of morning trade. — Bernama pic

, Nov 16 — Share prices on Bursa continued to stay in the black at mid-day despite the slower third quarter (3Q 2018) gross domestic product (GDP) growth announced today.

A dealer said market sentiment remained bullish mainly lifted by the rebound in crude oil prices, along with news that and the US might be taking steps to de-escalate their trade dispute.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 11.66 points to 1,705.87 after hovering between 1,701.92 and 1,708.96 throughout the morning session.

The index opened 1.98 points easier at 1,686.43 today.

Market breadth remained positive with gainers leading losers 398 to 272, with 357 counters unchanged, 854 untraded and 20 others suspended.

Volume stood at 1.06 billion units valued at RM861.62 million.

Bank Negara Malaysia () announced that Malaysia’s GDP grew by 4.4 per cent for 3Q 2018 compared with 6.2 per cent in the same period last year, driven by strong private consumption following the zerorisation of the Goods and Services Tax (GST) during the quarter.

According to BNM Governor Datuk Nor Shamsiah Mohd Yunus, the country’s GDP rose by 4.7 per cent in the first three quarters, and was on track to register a 4.8 per cent growth in 2018.

Commenting on the impact from the economic results, the dealer said investors had yet to react on BNM’s announcement, and the market was still in a risk-on mode.

Among heavyweights, Maybank rose six sen to RM9.44, advanced 12 sen to RM24.62, Tenaga rose 10 sen to RM14.92, CIMB was five sen firmer at RM5.64 while Petronas Chemicals was unchanged at RM9.40.

Of actives, Permaju added half-a-sen to 40.5 sen, MyEG retreated three sen to RM1.15, PUC eased one sen to 13.5 sen, while Hibiscus and Sapura were flat at RM1.06 and 36.5 sen respectively.

was the top gainer, bagging RM2.10 to RM146.50, followed by Apex Healthcare which accumulated 40 sen to RM8.50, while Hong Leong Financial put on 38 sen to RM19.38, F&N perked 34 sen to RM33.34 and Petron Malaysia went up 27 sen to RM7.40.

The FBM Emas Index climbed 87.18 points to 11,862.01, the FBMT 100 Index propped up 89.98 points to 11,702.12, the FBM 70 strengthened 146.22 points to 13,975.94 and the FBM Emas Shariah Index improved 84.72 points to 11,953.0.

The FBM Ace Index was 16.41 points lower at 4,928.05.

Sector-wise, the Finance Index increased 101.87 points to 17,303.39, the Industrial Products and Services Index edged up 0.83 point to 173.94 and the Plantation Index was 21.76 points firmer at 7,257.38. — Bernama

Source: The Malay Mail Online

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