Friday May 19, 2017
06:24 PM GMT+8

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KUALA LUMPUR, May 19 — Bursa Malaysia snapped a three-day losing streak to end higher today as investors confidence improved following Malaysia’s firmer economic performance in the first quarter ended March 31 this year, coupled with a rebound in crude oil prices, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) closed 1.11 points higher at 1,768.28 from yesterday’s close of 1,767.17.

After opening 1.23 points higher at 1,768.40, the index moved between 1,767.89 and 1,771.50 throughout the day.

Market breadth was positive, with gainers outpacing losers 623 to 302 with 364 counters unchanged, 459 untraded and 20 others suspended.

Volume increased to 3.27 billion units valued at RM3.24 billion from the 3.00 billion units valued at RM2.64 billion yesterday.

Malaysia’s economy recorded a robust growth of 5.6 per cent in the first quarter of this year from 4.1 per cent in the same quarter last year, boosted by strong domestic demand and private expenditure.

Regional markets were also slightly higher in tandem with the improved performance of Wall Street due to  strong US economic data amid political turbulence in the United States.

US stocks recovered from the steep sell-off two days ago, underpinned by the strong economic data.

The rebound in crude oil prices also boosted the market today with Brent crude up 28 cents to US$52.79 per barrel and US crude oil rose 29 cents to US$49.64 per barrel, on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude.

Among heavyweights, MISC eased four sen to RM7.49, Digi.com gained two sen to RM5.01, KLCC shed three sen to RM7.80 and IHH gave up two sen to RM6.00.

As for the gainers, PetDag accumulated 68 sen to RM24.76, BAT improved 52 sen to RM45.78, Malaysian Pacific Industries added 48 sen to RM13.40, Bursa added 39 sen to RM10.38, and Magni-Tech garnered 35 sen to RM5.65.

The FBM Emas Index garnered 25.47 points to 12,685.88, the FBMT100 Index increased 19.15 points to 12,307.17 and the FBM Emas Shariah Index rose 17.13 points to 13,0009.49.

The FBM 70 accumulated 66.70 points to 15,313.96 and the FBM Ace surged 171.23 points to 6,601.71.

Sector-wise, the Finance Index added 12.63 points to 16,355.32, the Plantation Index rose 8.11 points to 8,066.00, but the Industrial Index eased 4.23 points to 3,262.22.

Main Market turnover added to 2.09 billion units worth RM3.05 billion from 1.85 billion units worth RM2.48 billion yesterday.

Volume on the ACE Market increased to 760.06 million units valued at RM123.06 million from 606.58 million units valued at RM98.81 million.

Warrants fell to 416.71 million units valued at RM61.37 million from yesterday’s 536.88 million units valued at RM67.52 million.

Consumer products accounted for 127.26 million shares traded on the Main Market, industrial products (458.29 million), construction (170.43 million), trade and services (819.06 million), technology (103.72 million), infrastructure (12.48 million), SPAC (742,000 million), finance (93.38 million), hotels (2.47 million), properties (251.64 million), plantations (37.30 million), mining (15,000), REITs (15.60 million), and closed/fund (50,000). — Bernama

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