Best Stocks to Buy – FBM KLCI ends at intraday high on 11th hour buying
KUALA LUMPUR: Bursa Malaysia ended at an intra-day high, on continued buying in index-linked stocks.
At 5pm, the 30-stock index closed up 16.08 points, or 1.02% to 1,593.90, its intraday high. The index opened 1.54 points higher at 1,579.36 this morning.
Bursa Malaysia saw 8.61 billion shares, worth RM7.33bil, traded across the exchange. There were 555 gainers, 491 decliners and 464 closed unchanged.
According to Bursa Malaysia data, foreign investors were net buyers at RM20mil but local institutions were net sellers at RM65mil on Tuesday. Retail investors acquired RM45mil worth of equities.
Rakuten Trade Research Sdn Bhd has revised downwards its target for the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to 1,700 points in 2021, Bernama reported.
KLCI-component stocks closed broadly in the positive, with 19 gainers, 10 decliners while one closed unchanged.
Petronas-linked stocks were among the top gainers on Bursa Malaysia. Petronas Dagangan jumped 66 sen to RM19.48, Petronas Gas rose 44 sen to RM16.42 and Petronas Chemicals added 17sen to RM8.17.
Hong Leong financial Group surged RM1.24 to RM18.24 while Hong Leong Bank added 62 sen to RM18.26.
Maybank closed unchanged at RM8.33, Public Bank added 10 sen to RM4.27, CIMB climbed three sen to RM4.30 and RHB Bank fell seven sen to RM5.15.
Hartalega fell 23 sen to RM9 while Top Glove and Supermax shed eight sen each to RM5.12 and RM4.37 respectively.
On the broader market, Carlsberg added RM1.20 to RM136.50, Mega First Corp rose 64 sen to RM7.60 and F&N gained 58 sen to RM26.36.
Meanwhile, Brent crude shed 51 cents, or 0.75%, to US$68.36 a barrel while US West Texas Intermediate (WTI) crude fell 51 cents, or 0.77% to US$65.70 per barrel.
On the external front, MSCI’s Asia ex-Japan stock index was firmer by 0.25%.
Japan’s Nikkei 225 index settled down 0.33% at 28,549.01 while South Korea’s Kospi fell 0.09%, at 3,165.51.
Hong Kong’s Hang Seng index closed down 0.18% at 29,113.20.
China’s CSI300 index rose 0.3%, to 5,338.23, its highest since March 3, while the Shanghai Composite Index rose 0.4% to 3,608.85.