Malaysian Stock Market Ends Higher

KUALA LUMPUR, Feb 8 (Bernama) -- The Malaysian stock market (Bursa Malaysia) ended higher Thursday on buying support in selected blue chips and in line with regional peers, while bucking Wall Street’s lower close on Wednesday, dealers said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was up 2.76 points, or 0.15 per cent to 1,839.44 from Wednesday's close of 1,36.68. The index moved between 1,834.83 and 1,842.65 throughout the day after opening 1.02 points firmer at 1,837.70. Market breadth was positive, with gainers outpacing losers 577 to 365, with 375 counters unchanged, 541 untraded and 30 others suspended. Turnover, however, declined to 2.05 billion shares worth RM2.08 billion from Wednesday’s 3.31 billion shares worth RM3.50 billion. Japan's Nikkei 225 was higher at 1.13 per cent, Hong Kong's Hang Seng Index moved 0.42 per cent better and Singapore's Straits Times Index was up 1.2 per cent. A dealer said sentiment in the region was gradually improving despite the slide on Wall Street as investors turned their focus to local reasons to buy back after the recent global sell-offs. “In Malaysia, the surge in total trade last year announced on Wednesday may be one of the catalyst to boost the market higher amid the upcoming Chinese New Year which is a week away,” said the dealer. International Trade and Industry Minister, Mustapa Mohamed on Wednesday said total trade surged by a stellar 19.4 per cent to RM1.77 trillion in 2017 compared with RM1.49 trillion in 2016. He also said ASEAN member countries took in 29.2 per cent of the country’s exports. Trade performance was the strongest in 13 years, and exports grew significantly by 18.9 per cent, the strongest growth since 2005 to reach a new high of RM935.39 billion. On Bursa Malaysia, heavyweights Maybank and CIMB each rose two sen to RM10.08 and RM7.10 respectively, Tenaga eased four sen to RM15.80, Public Bank added four sen to RM21.98 and Petronas Chemicals dipped three sen to RM7.96. Of the active counters, PDZ and Netx each gained half-a-sen to 8.5 sen and four sen, while PUC was flat at 24 sen and Sapura Energy fell half-a-sen to 70 sen. The FBM Emas Index increased 21.73 points to 13,105.53, the FBMT 100 Index was up 17.44 points to 12,824.06 and the FBM 70 rose 15.85 points to 16,052.43. The FBM Emas Shariah Index improved 28.76 points to 13,378.97 and the FBM Ace perked 30.21 points to 6,199.83. Sector-wise, the Finance Index bagged 59.04 points to 17,663.60, the Industrial Index was 28.19 points better at 3,270.36 and the Plantation Index bagged 0.26 of-a-point to 7,965.58. -- BERNAMA