Malaysian Stock Market Closes Higher

KUALA LUMPUR, Oct 4 (Bernama) -- The Malaysian stock market ended the day higher in line with major Asian stock markets, boosted by news of a stronger-than-expected US manufacturing data despite lower oil prices, dealers said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.70 points to 1,661.25 compared with Friday's close of 1,652.55. After opening 5.81 points better at 1,658.36 this morning, the index fluctuated within a narrow range of between 1,658.02 and 1,666.02 throughout the day. Gainers led losers 408 to 398 while 364 counters were unchanged, 490 untraded and 18 others suspended. Volume fell to 1.49 billion units worth RM1.94 billion from 1.75 billion units worth RM2.19 billion recorded on Friday. A dealer said the US manufacturing sector index in September recovered to 51.5 from 49.4 in August, signalling that the US economy had improved. Regionally, Tokyo's Nikkei 225 rose 0.53 per cent to 16,735.65, South Korea's Kospi added 0.55 per cent to 2,054.86 and Hong Kong's Hang Seng index increased 0.45 per cent to 23,689.44. Meanwhile, the dealer said oil prices fell on news of increased Iranian exports which would add to the global oversupply, although the planned Organisation of the Petroleum Exporting Countries-led production cut later this year offered some support. Global benchmark Brent crude oil futures were traded at US$50.49 per barrel today, down 40 cents from its previous close. On the scoreboard, the FBM Emas Index rose 68.32 points to 11,755.90, the FBMT100 Index increased 69.75 points to 11,456.84 and the FBM Emas Shariah Index added 71.20 points to 12,419.38. The FBM 70 jumped 119.39 points to 13,841.52 and the FBM Ace was 16.25 points higher at 5,236.16. Sector-wise, the Finance Index gained 91.55 points to 14,249.84, the Industrial Index put on 0.23 of-a-point to 3,110.25 and the Plantation Index was 29.39 points better at 7,949.49. -- BERNAMA