KUALA LUMPUR, May 27 — Late buying in selected heavyweights, led by healthcare as well as industrial products and services counters has pushed Bursa Malaysia from earlier losses to end at an intra-day high, in line with the bullish sentiment on regional bourses, dealers said.

IHH Healthcare and Petronas Chemicals were among the top gainers, putting on 11 sen each to end at RM6.60 and RM9.98 respectively, and contributed a total of 3.2 points to the gains in the FTSE Bursa Malaysia KLCI (FBM KLCI).

At 5pm, the benchmark index rose 5.61 points, or 0.36 per cent, to 1,546.76 from Thursday’s close of 1,541.15, after hitting a low of 1,531.56 during the trading session.

The benchmark index, which opened 0.45 of-a-point lower at 1,540.70, remained in negative territory for the most part of the day.

However, market breadth was negative with decliners outpacing advancers 535 to 400, while 411 counters were unchanged, 964 untraded and 40 others suspended.

Total turnover slipped to 2.78 billion units worth RM2.01 billion from 2.89 billion units worth RM1.92 billion yesterday.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the key regional markets ended in positive territory following the broadly positive cues from Wall Street overnight, with buying interests mainly in technology and energy stocks.

“Investors also continued to pick up stocks at relatively reduced levels following recent weakness,” he told Bernama today.

Regionally, Singapore’s Straits Times Index added 0.60 per cent to 3,228.33, Japan’s Nikkei 225 gained 0.66 per cent to 26,781.68, Hong Kong’s Hang Seng rose 2.89 per cent to 20,697.36, South Korea’s KOSPI increased 0.98 per cent to 2,638.05, and China’s SSE Composite Index gained 0.23 per cent to 3,130.24.

Back home, heavyweights Maybank added 1.0 sen to RM8.99, Public Bank and Hong Leong Bank improved 2.0 sen each to RM4.62 and RM21 respectively, while Tenaga Nasional and CIMB rose 4.0 sen each to RM9.25 and RM5.05 respectively.

Of the actives, Cnergenz declined 5.0 sen to 62.5 sen, Ta Win fell 1.0 sen to 11.5 sen, DNeX shed 3.0 sen to RM1.01 while Sapura Energy earned half a sen to 8.0 sen.

On the index board, the FBM ACE decreased 59.28 points to 5,146.70, the FBM Emas Shariah Index went up 38.07 points to 11,391.89, the FBM Emas Index improved 26.58 points to 11,011.12, the FBMT 100 Index climbed 31.87 points to 10,707.68, and the FBM 70 put on 10.56 points to 13,098.56.

Sector-wise, the Industrial Products and Services Index was 1.07 points higher at 199.41, the Plantation Index gained 21.03 points to 8,009.72, and the Financial Services Index rose 54.50 points to 16,644.41.

The Main Market volume decreased to 1.79 billion shares worth RM1.71 billion from 1.86 billion shares worth RM1.72 billion yesterday.

Warrants turnover widened to 567.80 million units valued at RM111.38 million versus 379.61 million units valued at RM74.24 million previously.

The ACE Market volume expanded to 424.50 million shares worth RM189.64 million from 649.14 million shares worth RM181.37 million yesterday.

Consumer products and services counters accounted for 221.82 million shares traded on the Main Market, industrial products and services (486.15 million), construction (58.16 million), technology (197.61 million), SPAC (nil), financial services (45.17 million), property (133.64 million), plantation (40.44 million), REITs (4.88 million), closed/fund (25,700), energy (383.89 million), healthcare (53.76 million), telecommunications and media (85.11 million), transportation and logistics (35.51 million), and utilities (40.44 million). — Bernama

https://www.malaymail.com/news/malaysia/2022/05/27/late-buying-in-selected-heavyweights-pushes-bursa-malaysia-to-end-at-intraday-high/9213