KL shares up on positive economic data

February 21, 2014

Share prices on Bursa Malaysia closed higher today as blue-chips consolidated and small-capitalised stocks' rotational interest continued on positive global economic data and rising commodity prices.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 2.93 points to close at 1,830.74, after moving between 1,826.44 and 1,831.32 throughout the day.

Affin Investment Bank vice-president/head of retail research Dr Nazri Khan said positive global economic data -- Europe Current Account and Purchasing Managers Index (PMI) and US PMI manufacturing -- buoyed local market sentiment.

"While local blue-chips consolidate on better sentiment, impressive rotational interest on local small-capitalised stocks showcased healthy risk taking with active retail participation accumulating penny stocks," he told Bernama.

He added that from the intermarket analysis perspective, the stronger leadership by economically-sensitive groups, such as oil and gas, construction, technology and properties, and stronger gains from small-capitalised stocks suggested a healthy momentum in the near term.

The Plantation Index rose 16.63 points to 8,741.87 and the Industrial Index increased 15.42 points to 3,134.82.

The Finance Index fell 6.83 points to 16,564.28.

The FBM Emas Index rose 18.801 points for 12,667.86, FBMT100 Index firmed 15.24 points to 12,326.01 and the FBM Ace surged 130.47 points to 6,704.13.

The FBM 70 eased 0.42 point to 13,813.46.

Market breadth was positive as gainers outnumbered losers 457 to 366, while 340 counters were unchanged, 454 untraded and 17 others suspended.

Volume fell to 2.98 billion shares worth RM2.39 billion from 2.99 billion shares worth RM2.5 billion yesterday.

Among actives, Sona Petroleum and Iris perked 3.5 sen each to 60.5 sen and 58.5 sen, respectively, and PDZ Holdings and RandA Telecommunication earned half a sen each to 12.5 sen and six sen, respectively.

Minetech lost 1.5 sen to 20 sen.

Of the heavyweights, Maybank and Sime Darby added one sen each to RM9.76 and RM9.02, respectively, and TNB and Axiata gained two sen each to RM12 and RM6.55 respectively.

CIMB lost four sen to RM7.07.

Main Market volume fell to 2.21 billion units worth RM2.19 billion from 2.43 billion units worth RM2.36 billion on Thursday.

Turnover on the ACE market expanded to 731.46 million shares valued at RM193.1 million from 501.74 million shares valued at RM125.54 million previously.

Warrants decreased to 32.77 million units worth RM3.03 million from 43.77 million units worth RM4.61 million yesterday.

Consumer products accounted for 127.36 million shares traded on the Main Market, industrial products 580.02 million, construction 71.78 million, trade and services 658.34 million, technology 48.08 million, infrastructure 40.1 million, SPAC 332.98 million, finance 45.9 million, hotels 5.9 million,

properties 236 million, plantations 41.62 million, mining 64,000, REITs 22.71 million and closed/fund 18,000.-- Bernama