Malaysia Stock Market Closes Higher

KUALA LUMPUR, June 6 (Bernama) – The Malaysia stock market (Bursa Malaysia), which rebounded from a lower opening, closed higher Tuesday, driven by buying support for selected blue chips, led by Tenaga Nasional Bhd (TNB), the largest electricity utility in Malaysia. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) continued scaling higher at closing, ended at 1,791.01, up 3.06 points, from yesterday's close of 1,787.95. The key index opened 0.46 of-a-point lower at 1,787.49 and moved within a 11.92-point range of between 1,795.00 and 1,783.08 throughout the day. Single handedly contributing 3.66 points to the rise in the composite index, TNB, which also led top gainers of the day, chalked up 38 sen to RM14.20 with 26.04 million shares traded. Other leading movers in the composite index component stocks were IHH Healthcare, which added five sen to RM6.04, while IOI and Telekom rose three sen to RM4.55 and RM6.55, respectively. Top weighted Maybank, meanwhile, slipped one sen to RM9.58. Market breadth was however ended negative, with decliners outpacing gainers 547 to 342, while 358 counters were unchanged, 580 untraded and 29 others suspended. Volume shrank to 2.30 billion units valued at RM2.62 billion from the 2.48 billion units valued at RM2.64 billion on Monday. A dealer said share prices on Bursa rebounded at mid-morning despite regional marts slipped amid geopolitical tension in the Middle East, but some players turned cautious near midday as news on boardroom tussle at Felda Global Ventures Holdings Bhd (FGV) heated up. FGV's share price tumbled after lunch break to as low as RM1.51, led top active list with an 11 sen decline to end at RM1.62 with 96.74 million shares transacted. Other actives, China Automobile was flat at half-a-sen, XingQuan added two sen to four sen, Anzo edged up 1.5 sen to 25.5 sen, while Hibiscus flat at 47.5 sen. -- BERNAMA