Malaysia's Stock Market Ends Higher

KUALA LUMPUR, Oct 4 (Bernama) – The Malaysian stock market (Bursa Malaysia) ended higher Wednesday, in line with most regional markets, after the World Bank raised its growth forecasts for East Asia and the Pacific, including Malaysia, for 2017 and 2018. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.17 points, or 0.12 per cent, to 1,761.84 from Tuesday’s close of 1,759.67. The index opened 0.14 of-a-point better or at 1,759.81 and moved between 1,758.82 and 1,762.71 throughout the day. On the broader market, gainers outpaced losers by 454 to 393, while 401 counters were unchanged, 591 untraded and 18 others suspended. Volume rose to 2.25 billion units worth RM1.83 billion from 2.17 billion units worth RM2.07 billion on Tuesday. The World Bank on Wednesday revised Malaysia’s economic growth forecast upwards for this year to 5.2 per cent from the initial forecast of 4.3 per cent, on the back of a much stronger-than-expected actual growth of 5.7 per cent in the first half of 2017. Meanwhile, the Washington-based international financial institution expects the developing East Asia and Pacific region, which includes China, to grow 6.4 per cent in 2017 and 6.2 per cent in 2018. Regionally, Japan’s Nikkei went up 0.06 per cent to 20,626.66, Hong Kong’s Hang Seng rose 0.73 per cent to 28,379.18 but Singapore’s Straits Times Index eased 0.31 per cent to 3,236.17. Back home, heavyweights Sime Darby added one sen to RM9.05, Petronas Chemicals and Axiata went up two sen to RM7.31 and RM5.30, respectively, while CIMB increased five sen to RM6.41. Maybank and IHH Healthcare declined one sen to RM9.55 and RM5.72, respectively, while TNB and Public Bank both fell two sen to RM14.28 and RM20.58, respectively. The FBM Emas Index advanced 15.89 points to 12,556.65, the FBMT 100 Index expanded 14.4 points to 12,214.0, the FBM Emas Shariah Index improved 13.59 points to 12,795.91, the FBM 70 went up 15.13 points to 15,017.66 and the FBM Ace climbed 31.89 points at 6,642.73. Sector-wise, the Plantation Index rose 8.29 points to 7,911.1, the Finance Index put on 38.38 points to 16,565.38 and the Industrial Index edged down 0.04 of-a-point to 3,204.07. -- BERNAMA