KUALA LUMPUR, June 3 — Bursa Malaysia rallied today to close at its highest level in nearly four months, in tandem with the positive performance on regional bourses despite research firms’ view that the movement was majorly liquidity-driven. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI)...
An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. ― Picture by Hari Anggara
The overall market breadth was positive with advancers outpacing decliners 564 to 526, while 371 counters were unchanged, 407 untraded and 19 others suspended. “A point to note is that the rebound went into overdrive as the US Federal Reserve kicked off the Secondary Market Corporate Credit Facility, hence, it was arguably liquidity rather than fundamentally driven,” said MIDF Research.
Among heavyweights, Maybank increased 47 sen to RM7.98, Public Bank rose RM1.74 to RM17.38 and Petronas Chemicals added 31 sen to RM6.53.Hong Leong Financial Group emerged the top gainer today, rising RM1.82 to RM15.00, with 401,500 shares traded, and contributed 3.93 points to the composite index.
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