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KUALA LUMPUR (March 15): The FBM KLCI closed 0.32% higher today, amid bargain hunting after two straight days of decline seen last week.
At 5pm, the benchmark index settled at 1,620.92, up 5.23 points from last Friday’s close of 1,615.69.
Rakuten Trade Research head of equity sales Vincent Lau told theedgemarkets.com that the benchmark index closed higher after the recent sell-off attracted bargain hunters. “Sentiment has also lifted, given investors are positioning on stocks that are expected to benefit from economic recovery as the country’s daily Covid-19 cases continue to show improvement in infectivity rates,” he added.
Among the heavyweights that pushed the KLCI s climb were Maxis Bhd, Genting Bhd, Genting Malaysia Bhd, Petronas Dagangan Bhd and CIMB Group Holdings Bhd.
KUALA LUMPUR (March 12): The FBM KLCI continued to extend its losses today, finishing 0.84% or 13.72 points lower at 1,615.69.
According to Rakuten Trade Research head of equity sales Vincent Lau, the index was down due to profit taking ahead of the weekend amid mixed performances regionally.
Specifically, Supermax Corp Bhd, CIMB Group Holdings Bhd and Top Glove Corp Bhd posted declines today. While the FBM KLCI declined, indices such as the FBM ACE, FBM Small Cap and FBM Fledgling indices posted gains.
The FBM ACE was up 2.13% or 222.07 points higher at 10,665.19, while the Small Cap was up by 0.19% or 31.13 points at 16,806.82. Meanwhile, the Fledgling Index finished 0.77% or 164.52 points higher at 21,551.02.
The benchmark index finished 10.42 points or 0.64% down at 1,629.41.
Malacca Securities research head Loui Low said investors decided to take profit after recent gains.
Component stocks that dragged the KLCI today included Petronas Dagangan Bhd, Hap Seng Consolidated Bhd and Digi.Com Bhd.
However, while the index-linked heavyweights were down today, the FBM Small Cap and FBM ACE indices closed higher.
The Small Cap Index was up 275.03 points or 1.67% at 16,775.69, while the ACE Index closed 90.70 points or 0.88% higher at 10,443.12.
A total 9.53 billion shares worth RM5.44 billion were traded on Bursa Malaysia today.
Active counters included AirAsia X Bhd, Sauddee Group Bhd and Dagang NeXchange Bhd.
KUALA LUMPUR (March 10): Share prices of Bursa Malaysia Technology Index constituents including Malaysian Pacific Industries Bhd (MPI) and ViTrox Corp Bhd rose among top gainers in morning trade today after the US’ tech-laden Nasdaq closed up about 4% in overnight transactions as US bond yields fell and as investors bargain-hunted for beaten-down technology stocks.
On Bursa today, MPI’s share price had risen RM1.60 or 4.58% to RM36.50 at the time of writing, while ViTrox added 36 sen or 2.48% to RM14.86. On stocks selection, the overnight strong Nasdaq’s relief rally could spill over to local technology stocks and trigger renewed buying optimism after share prices corrected 20%-30% from their recent peaks,” Hong Leong Investment Bank Bhd analyst Ng Jun Sheng wrote in a note today.