KUALA LUMPUR – Bursa Malaysia’s key index rose slightly in the early session today on the back of a mild buying momentum, led by Maybank and CIMB.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.27 point to 1,645.17 after opening 0.47 of-a-point higher at 1,644.37, compared to yesterday’s close of 1,643.9.
On the broader market, gainers led losers 276 to 172, while 354 counters were unchanged, 1,326 untraded and 22 others suspended.
Volume stood at 446.38 million units worth RM163.60 million.
In a note today, Malacca Securities Sdn Bhd expects the buying support to persist in the local equity market, in tandem with the United States’ (US) stock markets which are trending towards an all-time high, as well as on the back of the year-end window dressing activities.
Meanwhile, traders may focus on the stronger-than-expected November exports numbers, which could lift export related sectors, it added.
“Also, Pharmaniaga’s vaccine distribution news is likely to spur interest within the logistic companies.
“While we believe the rising commodities prices may support the steel-related counters, the upside might be limited after several rounds of rally over the past few weeks,” said Malacca Securities.
Yesterday, the International Trade and Industry Ministry announced that Malaysia’s trade surplus surged 151.6% year-on-year (y-o-y) to RM16.82 billion last month – the highest surplus ever recorded for the month of November.
It said exports increased by 4.3% y-o-y to RM84.43 billion during the month, marking the third consecutive month of y-o-y growth, while imports fell nine% y-o-y to RM67.61 billion and total trade shrank by 2% y-o-y to RM152.04 billion.
Of the heavyweights, Maybank rose five sen to RM8.59, CIMB added three sen to RM4.33, Kuala Lumpur Kepong advanced 26 sen to RM24.46, Public Bank increased six sen to RM20.84, TNB went up four sen to RM10.62, while Dialog and Hap Seng Consolidated gained two sen each to RM3.44 and RM8.58, respectively.
IHH Healthcare and Hong Leong Bank were flat at RM5.72 and RM18.60, respectively, Petronas Chemicals reduced nine sen to RM7.40, while Top Glove and Hartalega both shed four sen to RM6.22 and RM12.42.
Of the actives, Mestron bagged one sen to 22.5 sen, Dynaciate edged up half-a-sen to 13.5 sen, Fintech and Parkson were flat at eight sen and 20 sen, respectively, AT Systematization eased half-a-sen to 19.5 sen and Melewar Industrial declined 1.5 sen to 57 sen.
On the index board, the FBM Emas Index went up 12.45 points to 11,860.46, the FBMT 100 Index improved 9.88 points to 11,610.53, the FBM Emas Shariah Index perked 1.88 point to 13,257.63, the FBM 70 appreciated 16.54 points to 15,214.03, and the FBM ACE increased 47.57 points to 10,727.36.
Meanwhile, the Industrial Products and Services Index slipped 0.31 of-a-point to 176.84, the Financial Services Index advanced 51.23 points to 15,479.52, and the Plantation Index widened 15.79 points to 7,446.8. – Bernama, December 29, 2020
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