Malaysia Market Watch – Weekly Summary

Decrease Font Size Increase Font Size Text Size Print This Page

BURSA Malaysia extended its recovery momentum yesterday following recent losses, on the back of positive external and internal sentiments, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.55 points to 1,642.95 from 1,628.4 previously. The benchmark index, which opened 6.48 points higher at 1,634.88, hovered between 1,633.49 and 1,642.95.

Dealers said the US Federal Reserve’s plans to launch an aggressive stimulus package, known as the third round of quantitative easing, helped boost the market.

Investors were optimistic with the Malaysian government’s commitment to provide support for economic activities via the Economic Transformation Programme and the US Federal Reserve’s new measures to stimulate the US economy.

“Investors regained confidence in the market on the back of positive news locally and overseas,” a dealer said.

Almost all indices regained strength after recent losses except FBM ACE which declined 6.38 points to 4,353.82.

Gainers led losers by 561 to 209, while 308 counters were unchanged, 545 untraded and 17 others suspended.

Among active counters, AirAsia added 15 sen to RM3.10, Ingenuity Solutions fell half sen to 18.5 sen and Hubline was flat at six sen.

Among heavyweights, Maybank rose 13 sen to RM9.40, Sime Darby lost one sen to RM9.80 and CIMB gained 11 sen to RM7.69.

Meanwhile, FBM KLCI futures contracts closed higher on positive market sentiments, dealers said.

September 2012 rose 20 points to 1,638.5, October 2012 added 21 points to 1,639.5, December 2012 gained 19.5 points to 1,636.5 and March 2012 advanced 15.5 points to 1,631. Bernama (BTimes)