KUALA LUMPUR – Bursa Malaysia ended on a higher note today, erasing yesterday's losses amid better global equity and futures markets performances.
At the close today, the benchmark index, FTSE Bursa Malaysia KLCI (FBM KLCI), increased 19.19 points to 1,597.58 compared with yesterday's close of 1,578.39.
The market opened 3.92 points higher at 1,582.31 and moved between 1,582.31 and 1,600.20 throughout the day.
Gainers led losers 653 to 496, while 640 counters were unchanged, 387 untraded and 24 others suspended.
Total volume improved to 8.93 billion shares worth RM4.22 billion compared with yesterday's 8.36 billion shares worth RM4.28 billion.
An analyst said that Asia has been the favourite ground for investors currently backed by its strength in tackling the Covid-19 pandemic, as well as the possibility of a vaccine to be available by the first quarter of 2021.
“Investors are now looking into strategies including rotating into stocks beaten down by Covid-19 such as travel and airline stocks.
“While some investors might shift into Europe, the majority would stick with Asia for now,” he said.
However, he said that today’s upside momentum might be hampered if the Budget 2021 which will be voted on tomorrow in Parliament takes a turn.
“Businesses rely on the budget to receive assistance as well as allocation from the development expenditure while civil servants rely on the budget for their salaries,” he said.
On Bursa Malaysia, the cyclical sectors on the FBM KLCI recorded gains led by Public Bank, which added 54 sen to RM18.20, Telekom Malaysia rose 24 sen to RM4.84, Maybank inched up nine sen to RM8.22 and Press Metal added 30 sen to RM6.40.
Among the actives, Sapura Energy added one sen to 12.5 sen, AT Systematization improved 1.5 sen to 17 sen and VSolar was flat at 4.5 sen.
On the index board, the FBM Emas Index was 114.71 points higher at 11,440.43, the FBMT 100 Index increased 114.17 points to 11,229.86, the FBM Emas Shariah Index up 80.60 points to 13,093.86, and the FBM 70 rose 66.24 points to 14,539.97.
The FBM ACE climbed 99.35 points to 10,579.47, the Industrial Products and Services Index added 0.93 of-a-point to 158.61, the Plantation Index added 45.20 points to 7,313.53, and the Financial Services Index surged 256.99 points to 14,227.41.
The Main Market volume declined to 4.78 billion units worth RM3.47 billion compared with 4.23 billion units worth RM3.31 billion on Tuesday.
Warrants turnover increased to 648.28 million shares worth RM108.53 million from 526.34 million shares worth RM88.62 million yesterday. – Bernama, November 25, 2020
Volume on the ACE Market meanwhile rose to 3.50 billion shares worth RM644.99 million from 3.20 billion shares worth RM880.76 million yesterday.
Consumer products and services accounted for 628.18 million shares traded on the Main Market, industrial products and services (932.48 million), construction (169.19 million), technology (317.23 million), SPAC (nil), financial services (84.61 million), property (253.93 million), plantations (57.55 million), REITs (9.51 million), closed/fund (64,100), energy (1.94 billion), healthcare (107.57 million), telecommunications and media (44.73 million), transportation and logistics (174.08 million), and utilities (64.07 million). – Bernama, November 25, 2020
