MARKET DEVELOPMENT
Public Bank Helps Drive One-day Trading Value to RM6B (Update)
Public Bank Helps Drive One-day Trading Value to RM6B (Update)
31/05/2014 (The Star) - Bursa Malaysia saw two records being set on Friday with Public Bank surging to an all-time high of RM21.60 while one-day trading value on the stock exchange surged to RM6bil.
At 5pm, Public Bank was up 98 sen to RM21.60. Turnover was 108.15 million shares as funds chased the stock because its weightage in the FTSE Value-Stocks Asean Index had increased from Wednesday.
The gains in Public Bank pushed the 30-stock FBM KLCI up a hefty 9.89 points but this was insufficient to support the KLCI which ended in the red.
The KLCI, however, fell 3.24 points to 1,873.38, dragged down by HLFG, Genting Malaysia, TM, Maxis, DIGi and plantations.
While the turnover on Bursa Malaysia was 1.91 billion shares, the one-day trading value was at RM6.012bil, the highest ever for the stock exchange.
The broader market was lower with 441 losers and 370 gainers and 441 counters unchanged.
Convenience store operator 7-Eleven closed 15 sen higher at RM1.53 when it was re-listed on the Main Market. It was actively traded with 202.15 million shares done.
Petronas-linked stocks ended higher with Petronas Gas up 50 sen to RM24.50 and Petronas Dagangan 14 sen to RM25.24.
Among the banks, AmBank rose seven sen to RM7.34 but HLFG fell the most, down 40 sen to RM15.40 and Maybank 10 sen to RM9.88.
As for telcos, TM lost 14 sen to RM6.18, Maxis 11 sen to RM6.57 and DiGi 10 sen to RM5.42 but Axiata rose three sen to RM6.93.
Plantations were among the losers also as crude palm oil for third month delivery fell RM40 to RM2,421.
KL Kepong fell 32 sen to RM23.92, FGV 16 sen to RM4.24 and IOI Corp 10 sen to RM4.93 while PPB Group ended two sen lower at RM15.68. However, Sime Darby rose five sen to RM9.55.
At 5pm, Public Bank was up 98 sen to RM21.60. Turnover was 108.15 million shares as funds chased the stock because its weightage in the FTSE Value-Stocks Asean Index had increased from Wednesday.
The gains in Public Bank pushed the 30-stock FBM KLCI up a hefty 9.89 points but this was insufficient to support the KLCI which ended in the red.
The KLCI, however, fell 3.24 points to 1,873.38, dragged down by HLFG, Genting Malaysia, TM, Maxis, DIGi and plantations.
While the turnover on Bursa Malaysia was 1.91 billion shares, the one-day trading value was at RM6.012bil, the highest ever for the stock exchange.
The broader market was lower with 441 losers and 370 gainers and 441 counters unchanged.
Convenience store operator 7-Eleven closed 15 sen higher at RM1.53 when it was re-listed on the Main Market. It was actively traded with 202.15 million shares done.
Petronas-linked stocks ended higher with Petronas Gas up 50 sen to RM24.50 and Petronas Dagangan 14 sen to RM25.24.
Among the banks, AmBank rose seven sen to RM7.34 but HLFG fell the most, down 40 sen to RM15.40 and Maybank 10 sen to RM9.88.
As for telcos, TM lost 14 sen to RM6.18, Maxis 11 sen to RM6.57 and DiGi 10 sen to RM5.42 but Axiata rose three sen to RM6.93.
Plantations were among the losers also as crude palm oil for third month delivery fell RM40 to RM2,421.
KL Kepong fell 32 sen to RM23.92, FGV 16 sen to RM4.24 and IOI Corp 10 sen to RM4.93 while PPB Group ended two sen lower at RM15.68. However, Sime Darby rose five sen to RM9.55.