Bursa ends higher on bargain-hunting in banking, gaming stocks

KUALA LUMPUR: Bursa Malaysia ended higher today, with the key index rising 0.27% due to bargain-hunting in banking and gaming stocks, an analyst said.

However, the market breadth was negative with decliners leading gainers 417 to 388, while 414 counters were unchanged, 1,075 untraded and 65 others suspended. Meanwhile, Bank of Japan governor Kazuo Ueda is expected to maintain the ultra-loose monetary policy, he noted. Among the heavyweights, Maybank jumped nine sen to RM8.70 and CIMB rose two sen to RM5.07, while Public Bank and CelcomDigi were flat at RM3.89 and RM4.40 respectively. Petronas Chemicals slipped 11 sen to RM7.04.

Sector-wise, the industrial products and services index shaved 0.62 of-a-point to 170.86 and the plantation index ticked down 28.79 points to 6,855.67, while the energy index rose 3.84 points to 847.34 and the financial services index climbed 67.99 points to 15,560.03.

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IPO momentum expected to resume, especially for ACE Market, says Bursa CEOBursa’s regulatory framework continues to offer a vibrant and supportive environment for issuers, he says.
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