Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 15): The FBM KLCI bucked regional trends and closed up 11.28 points or 0.68% at 1,674.02 after news reports indicated that Budget 2021 has passed its final vote at the Dewan Rakyat today.

Rakuten Trade Research vice president Vincent Lau told theedgemarkets.com today the biggest driver of the KLCI’s rise is the passing of Budget 2021 at third reading in parliament this afternoon.

The news reported that the third reading of Budget 2021 was passed in Dewan Rakyat today after the opposition lost another en bloc vote by a razor-thin margin.

A total of 111 Members of Parliament voted in favour of Budget 2021, which was proposed by the Perikatan Nasional government, versus 108 who voted against the budget, while one was absent.

Across Bursa Malaysia today, sentiment was mixed with 657 gainers versus 524 decliners, while 525 counters were unchanged. A total of 9.96 billion securities were traded for RM5.09 billion, lower than the 11.88 billion units worth RM7.09 billion recorded yesterday.

Out of the 29 Bursa indices, 26 closed higher today while three gauges, namely construction, energy and REIT, ended lower.

The heavyweights that lifted the benchmark index included Telekom Malaysia Bhd, Tenaga Nasional Bhd and Public Bank Bhd.

Meanwhile, major glove stocks reversed their fortunes today as Top Glove Corp Bhd closed up 11 sen to RM6.41, Hartalega Holdings Bhd gained two sen to RM11.98 and Supermax Corp Bhd rose three sen to RM6.79.

Among Bursa-listed stocks, top gainers included consumer products and services, technology companies and financial stocks.

The list included Carlsberg Brewery Malaysia Bhd, Heineken (M) Bhd, Dutch Lady Milk Industries Bhd, and British American Tobacco (M) Bhd,

Semiconductor manufacturer Malaysian Pacific Industries Bhd, Unisem (M) Bhd, financial services provider Public Bank and Aeon Credit Service (M) Bhd were also on Bursa’s top gainers list.

Meanwhile, IHH Healthcare Bhd and Petronas Gas Bhd (PetGas) were among the top decliners by value. IHH fell 10 sen or 1.79% to close at RM5.50 while PetGas closed down 20 sen or 1.12% to RM17.60.

Notable decliners included KLCCP Stapled Group (down 20 sen at RM7.14), RHB Bank Bhd (down 16 sen at RM5.69) and Petron Malaysia Refining & Marketing Bhd (down 15 sen at RM5.74).

As for actively traded stocks, Sino Hua-An International Bhd topped the list again today with 1.43 billion shares traded, exceeding yesterday’s trading volume of 1.01 billion shares. It closed up 4.5 sen at 20.5 sen.

Other most actively traded stocks included Yong Tai Bhd, AT Systematization Bhd, XOX Bhd, Trive Property Group Bhd, Iris Corp Bhd, AirAsia X Bhd, P.A. Resources Bhd and Bintai Kinden Corp Bhd.

Elsewhere in Asia, Japan's Nikkei 225 fell 0.17%, while Seoul's Kospi sank 0.19%. In China, Hong Kong’s Hang Seng Index dropped 0.69%, while the Shanghai Stock Exchange Composite Index inched down 0.06%.

CNBC reported that stocks in Asia-Pacific were lower on Tuesday as concerns over a coronavirus surge in multiple countries dulled optimism over the vaccine rollout in the US.

Edited ByLam Jian Wyn
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