FBM KLCI rebounds on stronger buying interest

KUALA LUMPUR: Bursa Malaysia ended higher on Monday, with buying support across the board and in line with the positive performance of regional bourses.

The benchmark FBM KLCI gained 7.3 points, or 0.46% to 1,582.46, boosted by banking and glove counters.

Market breadth was positive with gainers outnumbered decliners by 565 to 427.

Serba Dinamik saw its shares trend higher following the appointment of Ernst & Young Advisory Services Sdn Bhd as the independent reviewer.

It said EY will assess the veracity and accuracy of the matters highlighted by the external auditors, KPMG PLT.

Serba Dinamik surged 23.14%, or 14 sen to 74.5 sen, giving it a market capitalisation of about RM2.7bil. The counter saw a whopping 1.23 billion shares traded, making it the most active counter on Bursa Malaysia.

Serba Dinamik-WA jumped 47.06%, or four sen to 12.5 sen with 372.8 million done.

Stocks linked to it, KPower Bhd and Sarawak Consolidated Industries Bhd (SCIB) also closed higher. KPower added 14 sen to RM1.18 and SCIB closed up 9.5 sen to 88 sen.

Among the gainers on Bursa Malaysia, MPI rose 90 sen to RM40, D&O added 42 sen to RM13.46, Unisem advanced 23 sen to RM7.53 and Computer Forms gained 21 sen to RM3.90.

Nestle, Transocean, Panasonic Manufacturing and Kuala Lumpur Kepong were among the top losers on Bursa Malaysia.

Top Glove climbed five sen to RM4.77, Hartalega added 13 sen to RM8.43 and Supermax rose one sen to RM3.72.

Among the banks, Maybank rose one sen to RM8.19, Public Bank gained two sen to RM4.23, CIMB added one sen to RM4.59, Hong Leong Bank advanced 12 sen to RM18.90 and RHB climbed five sen to RM5.41.

Meanwhile, foreign investors remained net sellers for the second straight week with net outflow of RM193.86mil last week against RM135.63mil in the preceding week.

On a year-to-date basis, foreign investors had sold RM3.42bil net of local equities.

Activity was limited in the region as China, Hong Kong, Taiwan and Australia markets are closed for a holiday.

Reuters reported that South Korean shares closed at a record high on Monday. The Kospi ended up 2.81 points, or 0.09%, at 3,252.13.

Japan’s Nikkei 225 gained 0.74% to 29,161.80, its highest close since May 10.

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KLCI , Bursa Malaysia , Serba Dinamik , FBM KLCI


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