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Bursa closes firmer on positive investor sentiment
Published on: Wednesday, April 24, 2019

KUALA LUMPUR: Bursa Malaysia closed firmer Tuesday, lifted by positive investor sentiment in selected counters, namely Malaysia Airports, Tenaga, Hartalega and Top Glove, dealers said. 

Meanwhile, most equity markets in Asia turned in a mixed performance on lack of catalysts.

At close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) recovered 0.33 per cent or 5.38 points to 1,627.44 from Monday’s close of 1,622.06. 

The index opened 2.06 points firmer at 1,624.12 and moved between 1,620.93 and 1,629.42 throughout the trading session. 

Market breadth, was however negative, as losers outpaced gainers 443 to 406, while 412 counters were unchanged, 655 untraded and 32 others suspended.

Volume slipped to 3.73 billion units worth RM2.47 billion against Monday’s 4.77 billion units valued at RM3.18 billion.  

Shares of Malaysia Airport improved 4.08 per cent or 32 sen to RM7.40, Tenaga gained 0.99 per cent or 12 sen to RM12.28, Hartalega soared 7.07 per cent or 34 sen to RM5.15 and Top Glove rose 4.62 per cent or 21 sen to RM4.76. 

Malacca Securities Sdn Bhd (MSSB) said the local market undertone is frail and buying support still weak to ensure a sustained upside. 

“This also leaves the near-term outlook looking indifferent again. We think the mixed-to-lower market trend is likely to persist over the near-term.

“At the same time, market players are also waiting for potentially new leads from Prime Minister Tun Dr Mahathir Mohamad’s China trip this month to bolster the market’s outlook,” it said in a research note. 

In the interim, however, MSSB said a much stronger catalyst is required to provide the push for the benchmark FBM KLCI to not only head higher, but also sustain an upside streak.

“Therefore, we still see the 1,630 level serving as the immediate resistance, followed by the 1,640 level.

“On the other hand, the support remains at the 1,620 level and the recent low of 1,609 respectively,” it added. 

Among heavyweights, Maybank added one sen to RM9.16, Public Bank improved six sen to RM22.60, Petronas Chemicals bagged five sen to RM8.95 and CIMB was flat at RM5.17.

Top gainers were Hartalega and Malaysia Airports followed by DLady which strengthened 30 sen to RM64.00 and BAT which rose 26 sen to RM36.52.

The FBM Emas Index was 28.16 points higher at 11,585.54, the FBMT100 increased 29.86 points to 11,398.96 and the FBM 70 added 6.65 points to 14,624.19.  

The FBM Emas Shariah Index was 29.63 points better at 11,779.52 and the FBM Ace Index strengthened 37.07 points to 4,752.26.  

Sector-wise, the Financial Services Index went up 6.22 points to 16,817.76, but the Plantation Index eased 16.41 points to 7,192.14, while the Industrial Products and Services Index gained 1.16 points to 170.15.

Main Market volume narrowed to 2.93 million shares valued at RM2.30 billion against 3.97 million shares worth RM3.04 billion on Monday.   

Warrants turnover expanded to 340.60 million units worth RM41.06 million from 325.69 million units valued at RM41.06 million. 

Volume on the ACE Market slid to 455.00 million shares valued at RM96.08 million versus 468.08 million shares worth RM91.89 million.

Consumer products and services accounted for 350.86 million shares traded on the Main Market, industrial products and services (391.51 million), construction (817.15 million), technology (114.50 million), SPAC (nil), financial services (39.44 million), property (321.37 million), plantation (40.32 million), REITs (5.29 million), closed/fund (4,900), energy (689.95 million), healthcare (90.07 million), telecommunications and media (36.60 million), transportation and logistics (20.13 million) and utilities (16.93 million). – Bernama 



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