KUALA LUMPUR, March 17 — Bursa Malaysia rebounded and ended sharply higher today, in tandem with the recovery across regional markets and on Wall Street overnight as worries over...
KUALA LUMPUR, March 17 — Bursa Malaysia rebounded and ended sharply higher today, in tandem with the recovery across regional markets and on Wall Street overnight as worries over a global banking crisis receded, said an analyst.
Market breadth was positive with gainers thumping decliners 711 to 244 while 349 counters were unchanged, 961 untraded and 27 others suspended.Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI staged a strong rally today, taking the cue from a rebound on Wall Street after US major banks pledged to inject US$30 billion in liquidity to rescue First Republic Bank.
Among the heavyweight stocks, Maybank added 12 sen to RM8.38, Public Bank advanced four sen to RM3.97 and Petronas Chemicals surged 24 sen to RM7.23.Among the actives, Top Glove Corporation rallied eight sen to 91.5 sen, Capital A jumped 5.5 sen to 83 sen, and Zen Tech International grew by one sen to three sen.On the index board, the FBM Emas Index chalked up 155.23 points to 10,336.40, the FBM 70 Index surged 234.12 points to 13,365.65 and the FBMT 100 Index jumped 150.74 points to 10,028.88.
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