Bursa ends higher on sustained buying interest
KUALA LUMPUR, June 7 – Share prices on Bursa Malaysia ended on a higher note today on sustained buying interest with investor sentiment buoyed by positive economic developments in Europe and the United States, dealers said.
At close, the FTSE Bursa Malaysia KLCI (FBM KLCI), rose 5.88 points to 1,575.31 after hovering between 1,572.32 and 1,578.76.
The dealers said the local bourse was also tracking the bullish performance of other Asian stock markets while taking cue from the strong showing by Wall Street and European markets.
Investor sentiment was lifted on expectations that the Federal Reserve would come up with strong stimulus packages to revive the slowing US economy.
However, another dealer said some profit taking was seen in the afternoon session, paring down gains made in the morning.
He attributed this to the reluctance of investors to take a longer term view for the market amid the current Eurozone crisis which potentially could have a more adverse global impact.
The Finance Index rose 21.68 points to 14,075.07, the Plantation Index added 74.62 points to 8,357.99 and the Industrial Index increased 25.11 points to 2,768.40.
The FBM Emas Index improved 45.10 points to 10,735.95 and the FBM Mid 70 Index jumped 70.64 points to 11,660.13, and the FBM ACE Index gained 48.43 points to 4,205.21.
Market breadth was positive with advancers leading decliners by 411 to 277 while 347 counters were unchanged, 519 untraded and 19 others suspended.
Turnover rose to 779.75 million shares worth RM1.45 billion from the 699.96 million shares worth RM1.14 billion yesterday.
Volume on the Main Market increased to 524.64 million units worth RM1.405 billion from the 515.62 million units worth RM1.11 billion on Wednesday.
Turnover on the ACE Market rose to 160.90 million shares valued at RM27.68 million from 80.746 million shares worth RM15.36 million previously.
Warrants fell to 93.75 million units worth RM12.72 million from 98.62 million units worth RM14.83 million.
For the heavyweights, Maybank lost one sen to RM8.72, while Sime Darby rose three sen to RM9.71 and CIMB added one sen to RM7.50.
Among active counters, Focus Dynamics Technologies rose two sen to 16 sen and Media Prima was flat at RM2.22, while Permaju Industries lost four sen to 60 sen.
Consumer products accounted for 37.90 million shares traded on the Main Market, industrial products 96.78 million, construction 16.83 million, trade and services 229.49 million, technology 16.44 million, infrastructure 10.87 million, finance 56.48 million, hotels 465,900, properties 42.38 million, plantations 12.00 million and REITs 3.8 million while closed/fund and mining were nil. – Bernama