KUALA LUMPUR (March 11): Bursa Malaysia’s Property Index traded higher today amid better sentiment surrounding the property sector. The index reached an intra-morning high of 751.69 points, rising by 1.95% or 14.4 points from the 737.29 achieved yesterday. At 11.52am, the index has moderated some of the gains seen earlier this morning, up by 1.22% or nine points at 746.29. At the time of writing, the Property Index was the ninth-best performing.
Bursa property index up the most as vaccine drives economic recovery optimism
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Bursa Energy Index up the most as crude oil tops US$70 a barrel
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KUALA LUMPUR (March 3): The FBM KLCI settled up 9.03 points or 0.58% at 1,578.90 at Bursa Malaysia s afternoon break today, partly helped by the rise in rubber glove manufacturers share prices on bargain hunting and as Asian equity indices gained amid Covid-19 vaccine-driven economic recovery hopes.
Across Bursa at 12.30pm, there were 610 decliners and 460 gainers. Top decliners included AMMB Holdings Bhd as investors weighed the impact of the financial services provider s RM2.83 billion settlement linked to 1Malaysia Development Bhd. While blue chips were largely rangebound on Tuesday, further heavy profit-taking in rubber gloves and oil & gas stocks due to a dip in global oil prices was offset by bargain hunting in banks, property, telcos, and transportation and logistics counters due to economic recovery plays, TA Securities Holdings Bhd analysts wrote in a note today.
KUALA LUMPUR (March 3): AMMB Holdings Bhd’s (AmBank) share price plunged 11.4% or 36 sen to a near four-month low of RM2.80 on the first trading day after the banking group last Friday announced a whopping global settlement in relation to the 1Malaysia Development Bhd (1MDB) scandal.
The stock took a nosedive at the opening bell, it hit a low of RM2.63, down 53 sen or 16.8% against the previous closing of RM3.16 last Friday. Its trading volume swelled to a record high of 101.8 million shares.
The selling spread to its derivatives. AmBank-C21 lost two-thirds of its value, two sen, to close at one sen, AmBank-C23 was down two sen to 3.5 sen while AmBank-C24 dropped 2.5 sen to four sen.