KUALA LUMPUR: Share prices on Bursa Malaysia closed slightly higher on Thursday, July 8 as investors took the cue from the strong overnight close on Wall Street, dealers said.
The FBM KLCI closed 4.28 points higher to end the day at 1,316.03 lifted by gains in heavyweights, which saw Sime Darby adding eight sen to RM7.72 and CIMB five sen to RM7.05.
Gainers outnumbered losers by 365 to 242 while 275 counters remained unchanged. Volume was 532.63 million shares valued at RM971.13 million.
"The bullish closing by US stock market, which was driven by steady buying and optimism over the coming earnings results, provided support to the local market," a dealer said.
Some profit taking, however, was seen in the market as most investors were cautious over the global economic recovery. Sunway REIT, which made its debut, ended the day at 88.5 sen, or 1.5 sen below the institutional offer price of 90 sen. The retail offer price was 88 sen.
Among the Southeast Asian markets, Singapore's benchmark stock index rose 1.3% to the highest since May 13 while the Philippines climbed 1.4% to the highest since January 2008. Thailand, Indonesia and Vietnam ended the session with smaller gains.
Oil, which rose to around US$75 per barrel on Thursday, boosted energy counters across the region. Thailand's PTT Exploration and Production was up 0.4% while Indonesian coal miner Adaro Energy rose 1.8%.
In Bangkok, banks climbed ahead of second-quarter results due later in the month. Siam Commercial Bank and Kasikornbank each gained over 1%.
Sentiment was broadly positive after a university survey showing consumer confidence rose sharply in June as calm
returned after the end of bloody political protests in May, with optimism about the economy also growing.
Bright spots in the region included Singapore-listed precision engineering firm Armstrong Industrial, which rose 4.8
percent, helped by a rally in U.S. tech names overnight.
"The overall outlook for the TECHNOLOGY [] sector is pretty bright this year, so firms in Singapore are likely to benefit
as well," said a local trader.
Shares in Indonesian provincial lender PT Bank Pembangunan Jawa Barat Banten (Bank Jabar Banten) made their debut in Jakarta and jumped as much as 50% from the initial public offering (IPO) price of 600 rupiah .
A Jakarta-based trader said buyers were mostly from foreign financial institutions that saw the bank as having a cheap
valuation and good performance. Bernama/ Reuters
The FBM KLCI closed 4.28 points higher to end the day at 1,316.03 lifted by gains in heavyweights, which saw Sime Darby adding eight sen to RM7.72 and CIMB five sen to RM7.05.
Gainers outnumbered losers by 365 to 242 while 275 counters remained unchanged. Volume was 532.63 million shares valued at RM971.13 million.
"The bullish closing by US stock market, which was driven by steady buying and optimism over the coming earnings results, provided support to the local market," a dealer said.
Some profit taking, however, was seen in the market as most investors were cautious over the global economic recovery. Sunway REIT, which made its debut, ended the day at 88.5 sen, or 1.5 sen below the institutional offer price of 90 sen. The retail offer price was 88 sen.
Among the Southeast Asian markets, Singapore's benchmark stock index rose 1.3% to the highest since May 13 while the Philippines climbed 1.4% to the highest since January 2008. Thailand, Indonesia and Vietnam ended the session with smaller gains.
Oil, which rose to around US$75 per barrel on Thursday, boosted energy counters across the region. Thailand's PTT Exploration and Production was up 0.4% while Indonesian coal miner Adaro Energy rose 1.8%.
In Bangkok, banks climbed ahead of second-quarter results due later in the month. Siam Commercial Bank and Kasikornbank each gained over 1%.
Sentiment was broadly positive after a university survey showing consumer confidence rose sharply in June as calm
returned after the end of bloody political protests in May, with optimism about the economy also growing.
Bright spots in the region included Singapore-listed precision engineering firm Armstrong Industrial, which rose 4.8
percent, helped by a rally in U.S. tech names overnight.
"The overall outlook for the TECHNOLOGY [] sector is pretty bright this year, so firms in Singapore are likely to benefit
as well," said a local trader.
Shares in Indonesian provincial lender PT Bank Pembangunan Jawa Barat Banten (Bank Jabar Banten) made their debut in Jakarta and jumped as much as 50% from the initial public offering (IPO) price of 600 rupiah .
A Jakarta-based trader said buyers were mostly from foreign financial institutions that saw the bank as having a cheap
valuation and good performance. Bernama/ Reuters
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