Sept 30: Thai raw material trade - THB 39 - THB 44.5/kg ex-works Sept 30: STR 10 December trade - US$1395/mt FOB BKK LCB Sept 30: STR 20 December offer - US$1355/mt FOB BKK LCB Sept 30: STR 20 December bid - US$1345/mt FOB BKK LCB Sept 30: Indonesian raw material trade - IDR 18,000- IDR 18,500/kg ex-works Sept 30: SIR 20 December offer - US$1340/mt FOB BEL SBY Sept 30: SIR 20 December bid - US$1335/mt FOB BEL SBY Sept 30: SIR 20 January/February trade - US$1350/mt FOB BEL SBY Sept 30: SIR 20 December trade - US$1335/mt FOB BEL SBY Sept 29: STR 20 Octover offer - US$1350/mt FOB BKK LCB Sept 29: STR Mixture 20 November arrival trade - US$1375/mt CIF China

Buying in selected telcos lifts Bursa Malaysia to end at intraday high

16 Aug 2022, 00:00 AM SGT

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Buying in selected telcos lifts Bursa Malaysia to end at intraday high
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KUALA LUMPUR (Aug 16): Late buying in selected index-linked telecommunication companies (telcos) lifted Bursa Malaysia to close at its intraday high on Tuesday (Aug 16), amid mixed performance on the regional markets, dealers said.

The FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 14.77 points to end at 1,518.78, compared with Monday's close of 1,504.01.

The benchmark index, which opened 0.08 of a point higher at 1,504.09 on Tuesday morning, hit a low of 1,503.86 during the early strading session.

Market breadth was also positive, as gainers thumped losers 469 to 399, while 443 counters were unchanged, 954 untraded, and six others suspended.

Total turnover increased to 2.69 billion units worth RM2.22 billion, from 2.54 billion units worth RM1.73 billion on Monday.

Digi.Com and Axiata were among the biggest contributors to the gains in the composite index, rising 21 sen and 17 sen to RM3.86 and RM3.08 respectively, contributing a combined 5.44 points.

Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI closed higher, with buying mainly in telcos and plantation sectors.

“The key regional markets trended broadly lower, weighed by worries over the global growth, following weak China data that knocked oil prices and commodity-linked currencies.  

“On the domestic front, the FBM KLCI has broken the 1,510 resistance, thanks to continuous foreign buying support,” he told Bernama on Tuesday.

At present valuations, Thong said the benchmark index is still trading at a discount to its regional peers, hence, we believe the buying momentum will continue in the meantime.

“Hence, we expect the FBM KLCI to move higher, within the range of 1,510-1,530 for the remainder of the week, with immediate resistance at 1,530 and support at 1,500,” he added.

Among other heavyweights, Maybank went up 6.0 sen to RM8.97, CIMB rose 2.0 sen to RM5.45, IHH Healthcare was flat at RM6.49, while Public Bank slipped 1.0 sen to RM4.65, and Petronas Chemicals fell 3.0 sen to RM8.75.

Of the actives, Hartalega declined 9.0 sen to RM1.77, Borneo Oil was flat at 2.5 sen, Kossan Rubber rose 2.5 sen to RM1.01, Top Glove advanced 4.0 sen to RM83.5 sen, and Metronic Global perked up half-a-sen to 5.0 sen.

On the index board, the FBMT 100 Index surged 92.39 points to 10,498.16, the FBM Emas Shariah Index jumped 132.37 points to 10,901.91, the FBM 70 soared 73.43 points to 12,780.83, the FBM ACE climbed 8.82 points to 4,968.28, while the FBM Emas Index gained 88.99 points to 10,749.53.

Sector-wise, the Financial Services Index improved 33.51 points to 16,811.34, the Plantation Index perked up 97.16 points to 7,258.72, the Industrial Products and Services Index rose 0.78 of-a-point to 183.88, and the Energy Index edged up 0.09 of-a-point to 657.51.

The Main Market volume increased to 1.84 billion shares worth RM1.97 billion, from 1.80 billion shares worth RM1.48 billion on Monday.

Warrants turnover expanded to 424.16 million units valued at RM54.67 million, versus 327.27 million units valued at RM46.61 million previously.

The ACE Market volume improved to 432.09 million shares worth RM194.37 million, from 421.02 million shares worth RM205.61 million on Monday.

Consumer products and services counters accounted for 216.39 million shares traded on the Main Market, industrial products and services (557.95 million), construction (36.31 million), technology (192.97 million), SPAC (nil), financial services (54.95 million), property (97.78 million), plantation (30.06 million), REITs (8.68 million), closed/fund (nil), energy (83.20 million), healthcare (429.26 million), telecommunications and media (78.79 million), transportation and logistics (24.21 million), and utilities (25.31 million).