Bursa Malaysia snaps losing streak; multiple stocks hit limit-down again

KUALA LUMPUR: Bursa Malaysia snapped a three-day losing streak to end higher on Friday, spurred by bargain-hunting activities.

The FBM KLCI rose 7.19 points, or 0.49% to 1,486.37. For the week, the benchmark index fell marginally by 0.97 of a point.

There were 639 gainers, 359 losers and 423 counters traded unchanged on the Bursa Malaysia. Turnover stood at 5.39 billion shares valued at RM2.7bil.

A few counters including Rapid Synergy Bhd, YNH Property Bhd, Silver Ridge Holdings Bhd and Jentayu Sustainables Bhd hit limit-down again.

Rapid tumbled RM1.18, or 29.80 to RM2.78, YNH slid 36.5 sen, or 29.92% to 85.5 sen, Silver Ridge lost 30 sen, or 35.5% to 54.5 sen while Jentayu gave up 30 sen, or 37.5% to 50 sen.

Sarawak Consolidated Industrial Bhd (SCIB) slid 24.5 sen, or 45.79% to 29 sen and Tanco lost 14.5 sen, or 28.43% to 36.5 sen.

Among the gainers on Bursa Malaysia, Nestle rose 40 sen to RM119.40, PETRONAS Dagangan added 32 sen to RM20.98, Hong Leong Capital gained 25 sen to RM4.38 and Crescendo climbed 22 sen to RM2.76.

Elsewhere in the region, Japan’s Nikkei 225 closed up 1.4%, Hong Kong’s Hang Seng Index fell 0.54%, South Korea’s Kospi ended up 1.34% and Singapore’s Straits Times Index added 0.4%.