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Friday, 25 May 2018

Bursa Malaysia rebounded; Among heavyweights: Maybank, Petronas Chemicals, Public Bank, TNB & CIMB. For actives: Sapura Energy, YTL Power, Sliver Ridge, Sumatec & MyEG.


Malaysia: Bursa Malaysia rebounded to open higher on renewed buying interest in selected heavyweights after the recent heavy losses, on positive domestic economic development, dealers said.
At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.11 points better at 1,791.77 from Thursday’s close of 1,775.66.
The index opened 17.14 points higher at 1,792.82.
On the broader market, (Bursa Malaysia Pricegainers led losers 203 to 124 while 170 counters were unchanged, 1,410 untraded and 26 others suspended.
Volume stood at 163.35 million units valued at RM131.66 million.
A dealer said the market might gain new momentum after the Malaysia-China Chamber of Commerce said yesterday that Chinese investors were keen to re-invest in the country due to stable political landscape and a favourable investment environment.
Its President Tan Yew Sing said the Chinese investors (Stock Signals) were planning to return to Malaysia if the country has a transparent policy of no tolerance for corruption, and aggressive investigations conducted against private and government entities currently would make Malaysia more competitive in the long run.
Among heavyweights, Maybank was six sen weaker at RM10.20, Petronas Chemicals slipped five sen to RM8.29, Public Bank rose 60 sen to RM24.96, TNB advanced 32 sen to RM15.08 and CIMB gained 11 sen to RM6.16.
For actives, Sapura Energy and YTL Power (Financial Adviser Malaysiawent up 1.5 sen each to 70.5 sen and 76.5 sen, respectively, Sliver Ridge improved 2.5 sen to 24.5 sen while Sumatec and MyEG were flat at 4.5 sen and 79.5 sen, respectively.
The FBM Emas Index added 93.48 points to 12,489.44, the FBMT 100 Index increased 99.29 points to 12,297.25 and the FBM Emas Shariah Index perked 63.89 points to 12,531.84.
The FBM rose 80.24 points to 14,735.07 and the FBM Ace advanced 9.72 points to 5,161.79.
Sector-wise, the Finance Index jumped 118.61 points to 17,841.50, the Plantation Index was 21.86 points higher at 7,859.39 but the Industrial Index fell 2.08 points to 3,195.87.

  
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