KUALA LUMPUR: Share prices on Bursa Malaysia finished the week on a positive note on Friday, July 9 with sentiment boosted by the uptrend on Wall Street and confidence over economic growth, dealers said.
The FTSE Bursa Malaysia (FBM) KUALA LUMPUR COMPOSITE INDEX [] rose by 8.28 points to close at 1,324.31 points. It opened 0.13 point better at 1,316.16 points.
The key index moved between 1,315.88 points and 1,327.27 points throughout the day.
Dealers said the index was lifted by gains on banking stocks following the increase in the Overnight Policy Rate by 25 basis points to 2.75% on Thursday.'' ''
Kenanga Research said the main justification for the rate increase was Bank Negara Malaysia's positive note that global recovery has continued in the second quarter, supported by robust and broad-based growth in most emerging economies, in particular Asia, and a moderate recovery in advanced economies.
"Along with the better manufacturing data in May, we reckon it would likely support a reasonably high gross domestic product growth in the second quarter," it said.
Another dealer said the rate increase would help banks boost earnings.'' ''
The INDUSTRIAL INDEX [] increased 32.58 points to 2,633.85 points, PLANTATION [] Index gained 24.16 points to 6,273.94 points and the Finance Index advanced 58.91 points to 11,951.67 points.
The FBM Emas Index rose 52.79 points to 8,930.88 points and FBM70 [] Index increased 41.239 points to 8,928.27 points. The FBM Ace Index, however, fell 8.12 points to 3,761.73 points.
Gainers outnumbered losers by 405 to 238 while 276 counters were unchanged, 444 untraded and 25 others suspended.
Volume advanced to 664.333 million shares worth RM1.44 billion from 532.634 million shares worth RM971.134 million on Thursday.
Among active stocks, Time dotCom increased five sen to 50 sen, Axiata rose two sen to RM7.58 and Scomi gained 1.5 sen to 40 sen.
In heavyweights, Maxis rose one sen to RM5.31, Tenaga increased three sen to RM8.45 and IOI Corp advanced four sen to RM5.10. Sime Darby, however, fell one sen to RM7.71.
Among banking stocks, Maybank rose two sen to RM7.58, CIMB gained four sen to RM7.09, Public Bank increased two sen to RM11.94, AMMB Holdings added five sen to RM5.07 and Hong Leong Bank rose 14 sen higher to RM8.75.
Main Market turnover increased to 604.881 million shares valued at RM1.427 billion from 489.382 million shares valued at RM963.515 million on Thursday.
Volume on the ACE Market advanced to 31.402 million units worth RM5.011 million from 26.461 million units worth RM3.996 million on Thursday.
Warrants surged to 21.921 million shares valued at RM3.107 million from 14.23 million shares valued at RM1.706 million previously.
Consumer products accounted for 62.774 million shares traded on the Main Market, industrial products 113.083 million, CONSTRUCTION [] 56.257 million, trade and services 193.692 million, TECHNOLOGY [] 20.642 million, infrastructure 34.531 million, finance 59.434 million, hotels 486,900, PROPERTIES [] 29.562 million, plantations 15.501 million, mining 45,400, REITs 18.754 million and closed/fund 118,000. ' Bernama
The FTSE Bursa Malaysia (FBM) KUALA LUMPUR COMPOSITE INDEX [] rose by 8.28 points to close at 1,324.31 points. It opened 0.13 point better at 1,316.16 points.
The key index moved between 1,315.88 points and 1,327.27 points throughout the day.
Dealers said the index was lifted by gains on banking stocks following the increase in the Overnight Policy Rate by 25 basis points to 2.75% on Thursday.'' ''
Kenanga Research said the main justification for the rate increase was Bank Negara Malaysia's positive note that global recovery has continued in the second quarter, supported by robust and broad-based growth in most emerging economies, in particular Asia, and a moderate recovery in advanced economies.
"Along with the better manufacturing data in May, we reckon it would likely support a reasonably high gross domestic product growth in the second quarter," it said.
Another dealer said the rate increase would help banks boost earnings.'' ''
The INDUSTRIAL INDEX [] increased 32.58 points to 2,633.85 points, PLANTATION [] Index gained 24.16 points to 6,273.94 points and the Finance Index advanced 58.91 points to 11,951.67 points.
The FBM Emas Index rose 52.79 points to 8,930.88 points and FBM70 [] Index increased 41.239 points to 8,928.27 points. The FBM Ace Index, however, fell 8.12 points to 3,761.73 points.
Gainers outnumbered losers by 405 to 238 while 276 counters were unchanged, 444 untraded and 25 others suspended.
Volume advanced to 664.333 million shares worth RM1.44 billion from 532.634 million shares worth RM971.134 million on Thursday.
Among active stocks, Time dotCom increased five sen to 50 sen, Axiata rose two sen to RM7.58 and Scomi gained 1.5 sen to 40 sen.
In heavyweights, Maxis rose one sen to RM5.31, Tenaga increased three sen to RM8.45 and IOI Corp advanced four sen to RM5.10. Sime Darby, however, fell one sen to RM7.71.
Among banking stocks, Maybank rose two sen to RM7.58, CIMB gained four sen to RM7.09, Public Bank increased two sen to RM11.94, AMMB Holdings added five sen to RM5.07 and Hong Leong Bank rose 14 sen higher to RM8.75.
Main Market turnover increased to 604.881 million shares valued at RM1.427 billion from 489.382 million shares valued at RM963.515 million on Thursday.
Volume on the ACE Market advanced to 31.402 million units worth RM5.011 million from 26.461 million units worth RM3.996 million on Thursday.
Warrants surged to 21.921 million shares valued at RM3.107 million from 14.23 million shares valued at RM1.706 million previously.
Consumer products accounted for 62.774 million shares traded on the Main Market, industrial products 113.083 million, CONSTRUCTION [] 56.257 million, trade and services 193.692 million, TECHNOLOGY [] 20.642 million, infrastructure 34.531 million, finance 59.434 million, hotels 486,900, PROPERTIES [] 29.562 million, plantations 15.501 million, mining 45,400, REITs 18.754 million and closed/fund 118,000. ' Bernama
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