Business

Share prices end slightly higher on bargain hunting

KUALA LUMPUR, April 5 — Share prices on Bursa Malaysia closed slightly higher today on late bargain hunting, dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI), which touched an intra-day high of 1,700.55 yesterday, rose by 0.19 point to close at 1,688.65 today.

The barometer index moved between 1,680.17 and 1,688.96 throughout the day.

A dealer said the index saw mild profit-taking in the morning. However, the active participation by foreign investors in late trading helped lift the FBM KLCI to recover its earlier losses, he said.

Affin Investment Bank head of retail research, Dr Nazri Khan, said foreign funds helped boost the market. Over the past five days, foreign investors pumped in about RM2.5 billion into the market, he said.

“The ‘darlings’ of foreign investors, Public Bank, Maybank and Axiata, helped boost the index,” he told Bernama.

Nazri said the foreign participation showed their confidence in the Malaysian economy ahead of the 13th general election.

The Finance Index jumped 82.45 points to 15,905.67. The Plantation Index declined 29.03 points to 7,996.39 and the Industrial Index dropped 15.19 points to 2,885.41.

The FBM Emas Index rose 23.73 points to 11,568.33, FBMT100 added 19.32 points to 11,395.65, FBM Ace Index gained 27.13 points to 4,028.29 and the FBM Mid 70 Index surged 97.41 points to 12,880.05.

Gainers led losers by 480 to 252 with 291 counters unchanged, 594 untraded and 23 others suspended.

Turnover declined to 974.348 million shares worth RM1.973 from 996.007 million shares worth RM1.751 billion yesterday.

Among actives, Maybank jumped 25 sen to RM9.70, Sapura Kencana Petroleum gained 13 sen to RM3.20 and Tebrau Teguh rose four sen to RM1.52. LBS Bina fell four sen to RM1.03. — Bernama

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