Friday 29 Mar 2024
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KUALA LUMPUR (April 6): Bursa Malaysia Bhd rose as much as 20 sen or 2% after analysts said the bourse operator and regulator could have registered better first quarter results on higher share and derivative trades.

The Employees Provident Fund (EPF) recently upping its Bursa Malaysia stake could have also led to better sentiment on Bursa Malaysia's outlook.

Today, Bursa Malaysia shares rose to their highest so far at RM9.93. At 12.30pm, the counter cuts gains to settle at RM9.88 with 781,200 shares traded. Bursa Malaysia was the sixth-largest gainer across the exchange.

AmInvestment Bank Bhd analyst Kevin Ong told theedgemarkets.com: "The operating revenue (of Bursa Malaysia) is expected to be better in the first quarter than fourth quarter."

"This is based on improvement in the trading of equities in the equities market as well as improvement in the number of contracts traded for derivatives," Ong said.

Last Monday, Bursa Malaysia said it would announce its results for the first quarter ended March 31, 2017 (1QFY17) this April 26.

Yesterday, Bursa Malaysia said the EPF had raised its stake in the bourse operator to 5.087% after buying 167,190 Bursa Malaysia shares on the open market. Bursa Malaysia said the EPF had acquired the shares last Thursday (March 30).

In February this year, Bursa Malaysia said 4QFY16 net profit fell to RM50.17 million from RM50.6 million a year earlier. Full year net profit was lower at RM193.62 million versus RM198.61 million a year earlier.

 

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