Malaysian Stock Market Closes Higher On Selective Play In Heavyweights

KUALA LUMPUR, Oct 16 (Bernama) – The Malaysian stock market (Bursa Malaysia) closed higher Tuesday, lifted by selective play in heavyweight counters, amid stronger regional markets. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 8.1 points to 1,736.84 against Monday’s close of 1,728.74. The index had opened 0.57 of a point weaker at 1,728.17 and moved between 1,727.34 and 1,736.84 throughout the day. A dealer said the local market experienced a modest lift in thin trading ahead of the mid-term review of the 11th Malaysia plan, scheduled for Thursday. He said the mood in the market was helped by the rebound in major Asian equities markets after the recent heavy sell-off. However, gains were capped due to growing tensions between the US and Saudi Arabia over the disappearance of a political journalist. Regionally, Japan’s Nikkei 225 edged-up 1.25 per cent to 22,549.24 and Hong Kong’s Hang Seng gained 0.07 per cent to 25,462.26. Meanwhile, the Shanghai Composite Index eased 0.85 of a point to 2,546. Market breadth was negative with losers leading gainers 442 to 339, with 404 counters unchanged, 713 untraded and 28 others suspended. Volume was easier at 1.52 billion units valued at RM1.61 billion versus Monday’s 2.02 billion units valued at RM2.02 billion. Among Bursa Malaysia's heavyweights, Hong Leong Bank rose 44 sen to RM20.94, CIMB gained 10 sen to RM6.03, MISC perked 13 sen to RM5.68 and Genting Malaysia and Dialog bagged nine sen each to RM4.38 and RM3.41 respectively. As for actives, DGSB and Sapura Energy lost one sen each to five sen and 34.5 sen respectively. Hibiscus Petroleum added three sen to RM1.25, Yong Tai garnered 5.5 sen to 68 sen and Nextgreen perked eight sen to 49.5 sen. -- BERNAMA