KUALA LUMPUR: Bursa Malaysia recorded the highest ever in trading value on Thursday at more than RM9bil as the FBM KLCI staged a steady rebound as the government unveiled more solid measures to strengthen the economy.
At 5pm, the KLCI was up 21.34 points or 1.24% to 1,740.62. However, it managed to only recoup more than just one-third of the losses after falling more 56 points the previous day in a broad selloff.
Turnover was 4.61 billion shares valued at RM9.26bil – the highest since the RM7.31bil on May 14 this year when the equities and financial markets resumed trading after the Pakatan Harapan coalition swept to power.
The broader market was firmer with 581 gainers, 409 losers and 373 counters unchanged.
While foreign funds were net sellers at RM217.9mil, local institutions were net buyers at RM105.2mil and retail investors at RM112.7mil.
Consumer stocks were among the top gainers with Nestle up RM1.20 to RM148 and F&N 80 sen to RM37.82 while Carlsberg fell 66 sen to RM19.86.
MISC rose 52 sen to RM5.87 and powered the KLCI up 4.16 points, Tenaga rose 26 sen to RM14.40, Press Metal 38 sen higher at RM4.73. Genting Bhd added 19 sen to RM8.79 and Genting Malaysia three sen to RM4.98.
As for telcos, Digi rose 22 sen to RM4.42, Axiata 11 sen to RM4.36 and Telekom four sen to RM3.67 and Maxis two sen to RM5.79.
As for banks, Hong Leong Bank rose 58 sen to RM19.18, HLFG 40 sen to RM18.90, Maybank nine sen to RM9.66, RHB Bank five sen to RM5.34, Ambank three sen to RM3.55 while CIB was flat at RM5.90 while Public Bank was the biggest loser, falling 12 sen to RM23.86.
Sime Plantations recovered to climb 13 sen to RM5.54. It posted a 93% increase in net profit to RM1.69bil for the nine months ended March 31, 2018 due to stronger overall fresh fruit bunches (FFB) production, lower finance costs and non-recurring gains.
Sime Darby added two sen to RM2.44 while Sime Property was uchanged at RM1.15.
IOI Corp fell seen sen to RM4.63, KL Kepong two sen lower at RM24.90 and PPB Group gained two sen to RM19.92.
Among the oil and gas stocks, Petronas Gas rose 62 sen to RM17.58, Petronas Dagangan 14 sen to RM25.04 and Petronas Chemicals six sen to RM8.05.
Click here for latest announcement about the government's strategy to strengthen the economy: https://www.thestar.com.my/business/business-news/2018/05/31/federal-govt-deficit-to-remain-at-2pt8pct-of-gdp/
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