KUALA LUMPUR (March 15): The FBM KLCI closed 0.32% higher today, amid bargain hunting after two straight days of decline seen last week.
At 5pm, the benchmark index settled at 1,620.92, up 5.23 points from last Friday’s close of 1,615.69.
Rakuten Trade Research head of equity sales Vincent Lau told theedgemarkets.com that the benchmark index closed higher after the recent sell-off attracted bargain hunters. “Sentiment has also lifted, given investors are positioning on stocks that are expected to benefit from economic recovery as the country’s daily Covid-19 cases continue to show improvement in infectivity rates,” he added.
Among the heavyweights that pushed the KLCI's climb were Maxis Bhd, Genting Bhd, Genting Malaysia Bhd, Petronas Dagangan Bhd and CIMB Group Holdings Bhd.
Across Bursa Malaysia, the brisk trading saw a total of 10.29 billion shares worth RM5.27 billion traded. There were 611 gainers versus 586 losers, while 406 counters were unchanged.
Notable gainers included Nestle (M) Bhd and Hong Leong Bank Bhd. Dataprep shares price surged to a fresh high of RM3.79 — up 63 sen or 19.94% — after announcing last Friday (March 12) that it will be providing integrated solutions technology for Covid-19 screening.
Meanwhile, technology stocks dominated the top losers (by value) list, led by Malaysian Pacific Industries Bhd, KESM Industries Bhd, Greatech Technology Bhd, ViTrox Corp Bhd and Pentamaster Corp Bhd.
Of the actives, Lambo was the most actively traded with 878.51 million shares transacted. It closed up 0.5 sen to three sen. Others included XOX Bhd, Widad Group Bhd, AirAsia X Bhd, AirAsia Group Bhd, Dagang NeXchange Bhd, Permaju Industries Bhd, UCrest Bhd and Asia Poly Holdings Bhd.
Bloomberg reported that most Asian stocks dipped along US equity futures on Monday, as liquidity concerns weighed on Chinese shares and benchmark Treasury yields traded around a one-year high.
Across Asia, South Korea's Kospi dropped 0.28% while Japan's Nikkei 225 closed up 0.17%. In China, Hong Kong’s Hang Seng rose 0.33% while the Shanghai Stock Exchange Composite Index fell 0.96%.