KUALA LUMPUR – Gains in Hartalega and Top Glove supported Bursa Malaysia to end in positive territory.
At 5pm, the benchmark FBM KLCI was 3.6 points higher at 1,548.31 from yesterday’s close of 1,544.71.
The key index opened 2.32 points lower at 1,542.39 and fluctuated between 1,541.72 and 1,549.26 throughout the session.
On the broader market, gainers surpassed losers 510 to 432, while 465 counters were unchanged, 814 untraded and 67 others suspended.
Turnover increased to 4.79 billion units valued at RM2.63 billion from 4.73 billion units valued at RM2.41 billion yesterday.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said investors took the opportunity from yesterday’s slump to do some bargain hunting mainly in rubber glove counters.
Overall, the Bursa Malaysia Healthcare Index rose 1.9%.
“The gains in the index also occurred against the increase in daily Covid-19 cases, which breached the 6,000 mark today.
“Interestingly, the comeback of the repayment moratorium did not cause a huge sell-off in banks today as it will be done via an opt-in method. As such, the Bursa Malaysia Financial Service Index only closed lower by 0.04%,” he told Bernama.
Prime Minister Tan Sri Muhyiddin Yassin yesterday announced another blanket moratorium under the Pemulih stimulus package.
Heavyweights Hartalega inched up 19 sen to RM7.49, while Top Glove and Sime Darby rose seven sen to RM4.30 and RM2.20 respectively.
Press Metal was five sen better at RM4.84 and IOI gained six sen to RM3.81.
Conversely, PetChem lost six sen to RM8.06 and Genting Malaysia declined seven sen to RM2.79.
Of the actives, newly-listed Nestcon increased four sen to 32 sen, Serba Dinamik lost half-a-sen to 32 sen and MMAG rose half-a-sen to 14 sen.
On the index board, the FBM Emas Index improved 32.32 points to 11,249.66, the FBMT 100 Index increased 31.27 points to 10,969.24, and the FBM Emas Shariah Index rose 60.45 points to 12,307.93.
The FBM ACE was 81.90 points better at 7,077.44 and the FBM 70 added 64.23 points to 14,537.46.
Sector-wise, the Financial Services Index declined 5.51 points to 15,151.46, the Industrial Products and Services Index was 0.38 of-a-point higher at 187.33, and the Plantation Index increased 38.82 points to 6,469.85.
Main Market volume edged marginally to 3.15 billion shares valued at RM2.10 billion from 3.26 billion shares valued at RM2.09 billion yesterday.
Warrants turnover dwindled to 183.35 million units valued at RM20.59 million from 186.30 million units valued at RM14.55 million.
Volume on the ACE Market widened to 1.46 billion shares worth RM507.91 million from 1.29 billion shares worth RM295.27 million previously.
Meanwhile, the ringgit reversed gains versus the US dollar and finished lower, alongside other Southeast Asian currencies as worsening Covid-19 outbreaks sapped sentiment, a dealer said.
At 6pm, the local note depreciated to 4.1510/1530 from 4.1445/1495 at the close yesterday.
OANDA Asia Pacific senior market analyst Jeffrey Halley said the baht, ringgit and rupiah remained under pressure and would likely remain so throughout the week.
“US dollar/ringgit is trading at 4.1500 today and could retest 4.1650 this week. The greenback and Asia will remain under pressure this week and only a massive downside miss by Friday’s US employment data, leading to a softer greenback, is likely to reverse that course,” he said. – Bernama, June 29, 2021
