Bursa Malaysia ends in positive territory, boosted by PetChem FMTNews FMTBusiness
KUALA LUMPUR: Bursa Malaysia recovered earlier losses to finish higher boosted mainly by Petronas Chemicals .
The main index opened 2.54 points lower at 1,417.81 and moved between 1,415.10 and 1,425.37 throughout the session. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said he expected the short-term outlook of the local market to be positive given the overall improving sentiment both regionally and globally.
He added that the prospect of a breakup of China’s conglomerate Alibaba suggests that Beijing’s regulatory crackdown on tech companies may be easing, which is a positive development. As for the actives, BSL Corp dropped one sen to 1.5 sen, Sapura Energy was half-a-sen lower at 3.5 sen, Computer Forms went down 1.5 sen to 22.5 sen, Vinvest fell 2.5 sen to 23 sen and Bintai Kinden tumbled two sen to four sen.
Sector-wise, the financial services index went up 77.56 points to 15,766.74, the industrial products and services index inched up 2.87 points to 171.64, the plantation index rose 49.91 points to 6,730.48 and the energy index recovered 0.02 of-a-point to 832.27.
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