Bargain hunters in finance stocks lift Bursa Malaysia at close

Publish date: Fri, 06 Mar 2015, 03:15 AM

KUALA LUMPUR: Share prices on Bursa Malaysia closed slightly higher today, supported by bargain hunting in selected finance stocks after the midday break, dealers said.

At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.87 of a point better at 1,806.96, after fluctuating between 1,799.65 and 1,809.65 throughout the day.

Hong Leong Financial and LPI Capital rose 20 sen each to RM17.20 and RM22.14, respectively.

Head of Retail Research at Affin Hwang Investment Bank Datuk Dr Nazri Khan told Bernama that volume remained subdued, as investors are still taking a cautious stance ahead of the US job data announcement later today, which could provide more insights into the US Federal Reserve's interest rate hike timing.

A dealer meanwhile said, regionally, most Asian stocks traded higher as investor confidence over the US employment data being positive had grown and amid the European Central Bank's growth forecast upgrade.

On the broader market, gainers outpaced losers 456 to 361 with 310 counters unchanged, 634 counters untraded and 21 others suspended.

Total volume declined to 2.01 billion shares worth RM1.93 billion from 2.14 billion shares worth RM2.38 billion transacted on Thursday.

The FBM Emas Index gained 11.57 points to 12,440.96, the FBMT100 Index added 6.89 points to 12,120.34, while the FBM Ace jumped 116.65 points to 6,698.93.

The FBM Emas Shariah Index was 0.20 of a point lower at 13,034.98, while the FBM 70 rose 11.71 points to 13,410.99.

On a sectoral basis, the Industrial Index slipped 4.08 points to 3,313.08, the Plantation Index declined 10.67 points to 7,923.79, while the Finance Index improved 61.34 points to 15,989.77.

Of actively-traded stocks, ETI Tech advanced one sen to 9.5 sen, Privasia was three sen higher at 22.5 sen, Asia Bioenergy was flat at 11.5 sen, while Ingenuity eased half-a-sen to 7.5 sen.

Among heavyweights, Maybank and Axiata were flat at RM9.21 and RM7.13, respectively, TNB increased two sen to RM14.66, while Public Bank rose four sen to RM18.66.

Main Market volume slid to 1.13 billion units worth RM1.74 billion from the 1.35 billion units worth RM2.26 billion registered on Thursday.

Turnover on the ACE Market rose to 792.20 million shares valued at RM166.76 million from 670.82 million shares worth RM99.73 million recorded yesterday.

Warrants slipped to 83.51 million units worth RM14.53 million from 114.64 million units worth RM22.79 million transacted on Thursday.

Consumer products accounted for 74.04 million shares traded on the Main Market, industrial products (149.07 million), construction (60.34 million), trade and services (402.89 million), technology (196.33 million), infrastructure (12.65 million), SPAC (48.27 million), finance (61.78 million), hotels (2.58 million), properties (98.81 million), plantations (16.03 million), mining (1,100), REITs (5.20 million) and closed/fund (2,000). -- BERNAMA

Discussions
1 person likes this. Showing 1 of 1 comments

AyamTua

oil price crash = penny dominates the market. huat ahhhhhh kikikiiiii

2015-03-06 20:08

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