KUALA LUMPUR: Stocks on Bursa Malaysia closed higher on Thursday, Nov 4, in line with key regional markets after the U.S. Federal Reserve's new bond-buying programme of up to US$600 billion perked up investors' sentiment.
The FBM KLCI rose 4.14 points to 1,511.74, but off the 52-week high of 1,513.41 in the morning. Turnover was 1.28 billion shares valued at RM1.61 billion. Advancing counters led decliners 436 to 332 losers while 326 stocks remained unchanged.
Reuters reported Japanese equities rose more than 2% and led the region after fears of a much stronger yen in the wake of the Fed decision were eased by a moderate market reaction, prompting foreign investors to cover their bets against stocks. The Nikkei 225 surged 2.17% to 9,358.78 and the Hang Seng by 1.62% to 24,535.63.
The ringgit strengthened to 3.081 per US dollar, spot gold increased US$13.20 to US$1,361.75 while crude palm oil futures for December delivery rose RM105 to RM3,186 per tonne.
At Bursa Malaysia, index-linked stock Petronas Dagangan surged 48 sen to RM11.58, PPB Group 20 sen to RM19.22, Genting 10 sen to RM10.68, Sime Darby six sen to RM8.93 and Public Bank four sen to RM12.78.
Kulim was top gainer, jumping 64 sen to RM11.94 after its corporate announcement to undertake a one into two share split, bonus issue and free warrants.
Star Publications which saw 313.31 million shares or 42.4% stake traded off-market, shed one sen to RM4.10. The stake belonged to MCA's investment arm Huaren Holdings.
Property stocks ended the day mixed after Bank Negara Malaysia's announced immediate curbs to check excessive speculation in the residential property market. It imposed a maximum loan-to-value (LTV) ratio of 70% for the third housing financing facility.
SP Setia rose five sen to RM1.12, LBS 1.5 sen to 64 sen and PJ Development 0.5 sen to 87 sen. However, Sunway City fell five sen to RM4.15, Glomac shed three sen to RM1.68 and Mah Sing one sen to RM1.87.
Among the major decliners were Masterskill Education, which fell 28 sen to RM2.40, Mentiga Corp 16.5 sen to 65.5 sen and Rock Chemical Industries 15.5 sen to RM1.75.
Pansar Bhd was most active for the day with 48.69 million shares traded followed by Talam with turnover of 41.96 million units. Pansar, which resumed trading, rose 11.5 sen to 61.5 sen.
Maybank IB Research maintained an "overweight" call on the property sector as Bank Negara's annoucement did not come a surprise given its intention to control speculation activities in the property sector.
"We expect temporary and minimal negative impact on property demand as domestic demand is still largely dominated by genuine buyers," the research house said.
The FBM KLCI rose 4.14 points to 1,511.74, but off the 52-week high of 1,513.41 in the morning. Turnover was 1.28 billion shares valued at RM1.61 billion. Advancing counters led decliners 436 to 332 losers while 326 stocks remained unchanged.
Reuters reported Japanese equities rose more than 2% and led the region after fears of a much stronger yen in the wake of the Fed decision were eased by a moderate market reaction, prompting foreign investors to cover their bets against stocks. The Nikkei 225 surged 2.17% to 9,358.78 and the Hang Seng by 1.62% to 24,535.63.
The ringgit strengthened to 3.081 per US dollar, spot gold increased US$13.20 to US$1,361.75 while crude palm oil futures for December delivery rose RM105 to RM3,186 per tonne.
At Bursa Malaysia, index-linked stock Petronas Dagangan surged 48 sen to RM11.58, PPB Group 20 sen to RM19.22, Genting 10 sen to RM10.68, Sime Darby six sen to RM8.93 and Public Bank four sen to RM12.78.
Kulim was top gainer, jumping 64 sen to RM11.94 after its corporate announcement to undertake a one into two share split, bonus issue and free warrants.
Star Publications which saw 313.31 million shares or 42.4% stake traded off-market, shed one sen to RM4.10. The stake belonged to MCA's investment arm Huaren Holdings.
Property stocks ended the day mixed after Bank Negara Malaysia's announced immediate curbs to check excessive speculation in the residential property market. It imposed a maximum loan-to-value (LTV) ratio of 70% for the third housing financing facility.
SP Setia rose five sen to RM1.12, LBS 1.5 sen to 64 sen and PJ Development 0.5 sen to 87 sen. However, Sunway City fell five sen to RM4.15, Glomac shed three sen to RM1.68 and Mah Sing one sen to RM1.87.
Among the major decliners were Masterskill Education, which fell 28 sen to RM2.40, Mentiga Corp 16.5 sen to 65.5 sen and Rock Chemical Industries 15.5 sen to RM1.75.
Pansar Bhd was most active for the day with 48.69 million shares traded followed by Talam with turnover of 41.96 million units. Pansar, which resumed trading, rose 11.5 sen to 61.5 sen.
Maybank IB Research maintained an "overweight" call on the property sector as Bank Negara's annoucement did not come a surprise given its intention to control speculation activities in the property sector.
"We expect temporary and minimal negative impact on property demand as domestic demand is still largely dominated by genuine buyers," the research house said.
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