Bursa Malaysia extends gains for 5th straight session

Bursa Malaysia extends gains for 5th straight session

KUALA LUMPUR,. Bursa Malaysia extended its gains for the fifth consecutive session on Monday as investors anticipate the economy to continue to expand following the resumption of interstate travels.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.81 points firmer at 1,571.71, compared to 1,563.9 at Friday’s close.

The bellwether index opened 3.98 of-a-point better at 1,567.88.

The improving sentiment also saw all Bursa Malaysia indices in positive territory this morning.

On the broader market, gainers led decliners 364 to 133, while 282 counters were unchanged, 1,479 untraded and six others suspended.

Turnover stood at 396.45 million units worth RM186.90 million.

Malacca Securities Sdn Bhd said the brightening economic prospects amidst the resumption of interstate and overseas travel from today onwards will boost interest in local equities.

The FBM KLCI will also continue to build on the elevated commodity prices and buoyant regional markets.

On Friday, the crude palm oil price rose to above the RM4,950-level, while the crude oil price stood at above US$82 per barrel mark.

“Recovery theme stocks such as aviation, tourism and transportation companies may do well following the government’s announcement over the weekend to reopen travelling borders.

“The positive commodities market should also continue to benefit the plantation and oil and gas stocks,” the research house said in a note today.

Among the heavyweights, Petronas Chemicals jumped 13 sen to RM8.81, Press Metal gained 10 sen to RM6.19, Maybank added four sen to RM8.09, and Public Bank increased two sen to RM4.10.

Genting Malaysia and Dialog were six sen higher at RM3.19 and RM2.90, respectively, while Sime Darby Plantation inched up five sen to RM4.29.

As for the active counters, AirAsia Group and AirAsia X both received a boost from the expectation of the tourism sector’s recovery, rising by 10 sen to RM1.29 and one sen to 9.5 sen, respectively.

Tanco improved half-a-sen to 24.5 sen and Avillion edged up one sen to 14 sen.

On the index board, the FBM Emas Index was 70.18 points better at 11,571.94, the FBMT 100 Index rose 60.66 points to 11,218.83 the FBM Emas Shariah Index picked up 75.55 points to 12,715.24, the FBM 70 soared 101.50 points to 15,196.92, and the FBM ACE advanced 22.34 points to 7,162.76.

Sector-wise, the Financial Services Index ticked up 65.21 points to 15,277.77, the Industrial Products and Services Index bagged 1.60 points to 211.06, while the Plantation Index firmed 59.05 points to 7,024.08. — Bernama

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