Bursa Malaysia ends higher on 11th-hour window dressing

KUALA LUMPUR: Bursa Malaysia rebounded from earlier losses to finish the last full trading week of 2018 higher, lifted by the eleventh-hour window dressing activities amid thin holiday season trading.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) wrapped up the day 1.35 points or 0.08% firmer at 1,692.07 from Thursday’s close of 1,690.72.

The barometer index moved between 1,684.47 and 1,694.08 throughout the day, after opening 2.81 points weaker at 1,687.91.

Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said in tandem with the global stock markets, Bursa Malaysia was traded in a lacklustre mode today as many investors were away from their desks for holidays.

“I suspected the institutional investors were just doing a lukewarm window dressing by not purchasing the big-capitalised stocks like what they did over the past week,” he told Bernama.

Total volume was slightly lower today, with 1.41 billion shares worth RM1.10 billion being traded from 1.60 billion shares worth RM1.21 billion yesterday.

Market breadth was positive with 385 gainers outpacing 343 losers, while 395 counters were unchanged, 764 untraded and 54 others suspended.

Among heavyweights, Maybank rose three sen to RM9.43, Public Bank and CIMB were unchanged at RM24.88 and RM5.78, respectively, while Tenaga was two sen lower at RM13.56.

Of actives, Hubline and Velesto inched up half-a-sen each to 4.5 sen and 18 sen, respectively, VS Industry added 1.5 sen to 72 sen, Bumi Armada gained one sen to 16 sen, while Sapura Energy eased one sen to 28.5 sen and Yong Tai was two sen lower at 36 sen.

F&N emerged as the top gainer, bagging RM1.04 to RM33.36, followed by United Plantations which rose 54 sen to RM25.64, PPB and KLK, which improved 50 sen each to RM17.70 and RM24.64, respectively, while Batu Kawan was 28 sen firmer at RM16.68.

The FBM Emas Index perked 13.66 points to 11,537.30, the FBMT 100 Index increased 11.82 points to 11,454.58 and the FBM Emas Shariah Index advanced 24.13 points to 11,509.42.

The FBM Ace Index was 22.54 points higher at 4,260.20 and the FBM 70 accumulated 24.96 points to 13,091.52.

Sector-wise, the Industrial Products and Services Index edged up 0.38 of-a-point to 166.81, the Plantation Index advanced 68.71 points to 6,897.74 and the Finance Index slid 5.36 points to 17,341.69.

Main Market volume slipped to 1.04 billion shares worth RM1.02 billion from 1.11 billion shares worth RM1.10 billion on Thursday.

Warrants turnover dropped to 216.53 million units valued at RM53.04 billion versus 328.38 million units valued at RM75.07 million.

Volume on the ACE Market retreated to 125.23 million shares worth RM23.17 million from 161.66 million shares worth RM28.24 million yesterday.

Consumer products and services accounted for 179.55 million shares traded on the Main Market, industrial products and services (183.12 million), construction (62.99 million), technology (101.50 million), SPAC (5.67 million), financial services (21.32 million), property (100.33 million), plantations (20.47 million), REITs (19.31 million), closed/fund (nil), energy (199.36 million), healthcare (19.32 million), telecommunications and media (23.83 million), transportation and logistics (102.10 million), and utilities (9.41 million).