Kuala Lumpur stock market’s benchmark index, FTSE Bursa Malaysia KLCI (FBM KLCI), gained 6.03 points, or 0.37% to close at 1,640.94, up from 1,634.91, the settlement from Wednesday.
According to analysts, Bursa was engulfed by upbeat sentiment due to the emergence of bargain hunting following the recent sell-off.
FBM KLCI at one point rallied to a high of 1,646.14, but failed to hold on owing to profit taking towards the end of the day.
Except for Energy and Telecommunications & Media, all other sector indices rose slightly, below 1%. Technology Index stood out, recording the biggest rise of 0.9%.
On the broader market, gainers outnumbered decliners by 568 to 434, with 540 counters unchanged and 899 untraded.
The trading volume today fell to 2.64 billion1 shares valued at RM2.31 billion2, from 3.22 billion shares valued at RM2.47 billion recorded the previous day.
Turnover fell to 2.63 billion shares valued at RM2.3 billion from 3.22 billion units valued at RM2.47 billion the previous day.
The US dollar-to-ringgit exchange rate settled at RM4.2915 as at 5pm on Oct 10, as ringgit depreciated slightly.
Notably, Public Bank Berhad today announced in a press conference of its acquisition of 44.15% of LPI Capital Bhd, or more commonly known as Lonpac.
To comply with Bank Negara’s requirements, Teh family, who is said to own 42.74% of LPI Capital and 21.64% of Public Bank, has agreed to the gradual slashing of the family’s stake in Public Bank down to 10% in the next five years.
Public Bank today also filed with Bursa Malaysia to suspend the trading of its share, noting that the counter will resume trading from 9am Friday (Oct 11).
Also, Autoris Group Holdings Bhd, which specialises in loss adjusting services related to both motor and non-motor insurance segments, today closed 400% higher than its listing price of 10 sen on Bursa’s Leap Market to settle at 50 sen.
The group claims it mediates claim adjustment using technical data and facts to resolve disputes through negotiation between the insurers and the insured, or claimants.
