Malaysian Stock Market Ends At Intra-Day High, Ci Up 1.11 Pct

KUALA LUMPUR, March 6 (Bernama) -- The Malaysian stock market (Bursa Malaysia) ended at an intra-day high Monday on persistent buying interest in selected heavyweights, particularly in consumer-and finance-related stocks, dealers said. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended 18.98 points or 1.11 per cent higher at 1,727.36 from 1,708.38 last Friday. The index opened 1.79 points easier at 1,706.59 and moved between 1,706.21 and 1,727.36 throughout the day. On the broader market, gainers led decliners 567 to 358, 364 counters were unchanged, 406 untraded and 14 others were suspended. Volume trimmed to 3.01 billion units, worth RM2.63 billion, against last Friday's 3.41 billion units worth RM2.63 billion. Among consumer-related stocks, BAT was the top gainer. It rose RM1.30 to RM49.50 followed by Dutch Lady which increased 26 sen to RM55.66. Finance stocks, Hong Leong Financial Group rose 36 sen to RM15.66, HCK Capital Group improved 25 sen to RM3.60 and CIMB Group added 24 sen to RM5.46. FXTM Chief Market Strategist Hussein Sayed said last week was the repricing of interest rates expectations, in which investors across different asset classes were no longer waiting for clarification from the US administration to base their decisions, at least in the short-run. "The significant rally in US equities and the US dollar last week occurred without any new fresh fiscal signals. "Infact, President Trump's speech on Tuesday left many questions unanswered, and still investors reacted as if tax cuts and stimulus plans will be implemented regardless," he added. The FBM Emas Index rose 114.57 points to 12,172.16, FBMT100 Index surged 113.49 points to 11,849.8 and the FBM Emas Shariah Index was up 64.36 points at 12,563.13. The FBM 70 added 71.89 points to 14,100.12 while the FBM Ace was 19.72 points higher at 5,280.8. Sector-wise, the Industrial Index rose 26.22 points to 3,262.67, Plantation Index gained 13.95 points to 8,108.46 and the Finance Index surged 199.01 points to 15,487.57. -- BERNAMA TCT