Press Metal, Pchem lead Bursa Malaysia rally

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Press Metal, Pchem lead Bursa Malaysia rally
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KUALA LUMPUR, March 28 -Improved risk sentiment and bargain hunting in heavyweights led by Press Metal and Petronas Chemicals (PChem) saw Bursa Malaysia’s main index gaining 0.9...

KUALA LUMPUR, March 28 -Improved risk sentiment and bargain hunting in heavyweights led by Press Metal and Petronas Chemicals saw Bursa Malaysia’s main index gaining 0.9 per cent at the close.

Market breadth remained mixed with decliners leading gainers by 416 to 410 while 430 counters were unchanged, 1,040 untraded and 24 others suspended. “Nonetheless, we believe it is too early to gauge whether the overall banking sector problems in the US and Europe have been resolved completely until the situation remains stable for at least nine to 12 months.

Among the actives, Computer Forms trimmed 4.5 sen to 18.5 sen, Vinvest improved two sen to 24.5 sen, Vizione perked up half-a-sen to six sen, while Sapura Energy and Fitters were unchanged at four sen and eight sen respectively. Sector-wise, the Financial Services Index surged 137.89 points to 15,560.39, the Energy Index perked up 20.48 points to 813.43, the Plantation Index garnered 58.02 points to 6,714.74, and the Industrial Products and Services Index inched up 2.04 points to 168.00.

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