KUALA LUMPUR – Bursa Malaysia closed higher today in line with most of the regional markets, driven by continued buying momentum on bullish economic outlook, dealers said.
At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.97 points to 1,599.66 after moving between 1,587.06 and 1,602.23 throughout the day.
On the broader market, gainers led losers 776 to 532, while 388 counters were unchanged, 468 untraded and 19 others suspended.
Total volume increased to 16.10 billion units worth RM6.71 billion from 12.58 billion units worth RM4.6 billion on Friday last week.
A dealer said that investors reacted well to yesterday’s signing of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest regional free trade agreement.
Another dealer said the local market barometer also benefited from Bank Negara Malaysia’s announcement last week that the country’s Gross Domestic Product (GDP) shrank by just 2.7% in the third quarter compared with the 17.1 % contraction in the second quarter.
The central bank attributed the GDP’s improvement largely to the reopening of the economy following COVID-19 containment measures and better external demand conditions.
Of the heavyweights, Maybank gained 21 sen to RM8.14 and Public Bank jumped 72 sen to RM18.48, while TNB declined 12 sen to RM11.20, Top Glove dipped 58 sen to RM7.20 and Petronas Chemicals slipped 8.0 sen to RM6.70.
Of the actives, AT Systematization and Nexgram earned half-a-sen each to 26 sen and 6.5 sen, respectively, while Metronic Global went up 2.0 sen to 19 sen and MTouche climbed 3.5 sen to 10.5 sen.
On the index board, the FBM Emas Index was 64.62 points better at 11,474.61, the FBMT 100 Index lifted 59.30 points to 11,263.34, the FBM Emas Shariah Index fell 141.38 points to 13,185.65, and the FBM 70 gained 34.51 points to 14,657.49.
The FBM ACE surged 345.64 points to 11,570.39.
The Industrial Products and Services Index added 0.68 of-a-point to 157.20, the Plantation Index shed 26.80 points to 7,277.40 and the Financial Services Index advanced 575.87 points to 13,143.88.
The Main Market volume rose to 7.35 billion shares worth RM4.87 billion from 6.5 billion shares worth RM3.2 billion on Friday.
Warrants turnover increased to 1.05 billion units valued at RM178.29 million from 662.75 million units valued at RM114.61 million last week.
Volume on the ACE Market widened to 7.70 billion shares worth RM1.69 billion compared with 5.41 billion shares worth RM1.28 billion previously. – Bernama ,November 16, 2020
_with_his_US_counterpart_Joe_Biden._Source_-_US_Embassy__Consulates_in_Indonesia.png)
.jpeg)
