BURSA MALAYSIA ENDS 1.04 PCT HIGHER

ROSEMARIE KHOO MOHD SANI

KUALA LUMPUR, Feb 6 (Bernama) -- Bursa Malaysia continued yesterday’s uptrend momentum to close higher on persistent bargain hunting in most heavyweights and the broader market, analysts said. 

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.04 per cent, or 15.98 points to 1,552.77 from Wednesday’s close of 1,536.79.

The benchmark index, which opened 4.09 points better at 1,540.88, moved between 1,540.88 and 1,555.53 throughout the day.

On the broader market, gainers outpaced losers by 673 to 292, with 316 counters unchanged, 696 untraded and 23 others suspended. 

Turnover increased slightly to 3.07 billion shares valued at RM2.47 billion from 3.06 billion shares valued at RM2.68 billion on Wednesday.

An analyst said Bursa Malaysia continued its rebound, while tracking its regional peers, after declining over the past two weeks since Jan 22 following global worries surrounding the fast spread of the 2019 novel coronavirus (2019-nCoV). 

It was reported that Hong Kong’s Hang Seng index rose 2.6 per cent, recording its best one-day performance since early September, while Japan’s Nikkei 225 increased 2.38 per cent. 

The CSI 300, China’s gauge of Shanghai- and Shenzhen-listed blue-chip stocks, ended the day up 1.9 per cent. 

Meanwhile, MIDF Amanah Investment Bank Bhd said the 2019-nCoV would not directly impact the Malaysian economy but indirectly through the external trade and investment medium.

It said China is Malaysia’s largest trading partner, accounting for about 17 per cent of total trade.

“However, at current stage, we do not foresee any significant impact of the outbreak on the Malaysian economy as we believe the threat is only temporary and will be contained.

“Hence, we maintain our full-year gross domestic product, export and import forecast at 4.5 per cent, 1.5 per cent and 0.8 per cent year-on-year respectively,” MIDF said in its thematic report today. 

Among the heavyweights, MISC gained 29 sen to RM8.25, Genting Malaysia rose nine sen to RM3.03, Public Bank put on 40 sen to RM18.40 and Sime Darby Plantation increased eight sen to RM5.18.

Maybank added nine sen to RM8.45 and Tenaga gained 12 sen to RM12.88. 

Of the actives, AirAsia Group was up seven sen to RM1.23, Bumi Armada rose three sen to 41 sen but MTouche eased 2.5 sen to 15.5 sen, while Alam Maritim bagged 1.5 sen to 15.5 sen. 

On the index board, the FBM Emas Index soared 110.08 points to 11,047.42, the FBM Emas Shariah Index added 91.82 points to 11,784.59 and the FBMT 100 Index rose 102.94 points to 10,8484.19.

The FBM 70 perked up 95.14 points to 13,806.44 and the FBM Ace surged 72.63 points to 5,480.53.

Sector-wise, the Industrial Products and Services Index inched up 1.57 points to 146.10, the Financial Services Index was 170.72 points higher at 14,849.14 and the Plantation Index was up 87.60 points to 7,311.39.

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