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Bursa Malaysia higher at mid-day
Last update: 17/05/2018

KUALA LUMPUR, May 17 (Bernama) -- Bursa Malaysia was higher at mid-day today on improving market sentiment.

At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) perked 4.91 points to 1,863.17 from†yesterday's close of†1,858.26.

The index opened 6.52 points higher at 1,864.78 and moved between 1,857.92 and 1,867.09 throughout the session.

A dealer said the announcement by the Treasury†yesterday on†zero-rating†the Goods and Services Tax (GST) from June 1 should be a†positive catalyst to drive domestic consumption and improve market sentiment.

"We view this GST zerorising move as positive for the consumer sector and several consumer indicators are already showing positive signs, such as private consumption growth which is trending higher, with retail†sales growth recovering†to pre-GST levels and the Consumer Sentiment Index†inching higher," he added.

Among heavyweights, Petronas Chemicals bagged†nine sen to RM8.71, while Maybank and TNB were flat at RM10.86 and RM15.92 respectively.

Public Bank lost two sen to RM24.48 and CIMB†slipped three sen to RM6.82.

For actives, MyEG†lost 17 sen to RM1.10, Sapura†Energy eased two sen to 79 sen and George Kent fell 29 sen to RM1.65.

Netx†and Advance Synergy were flat at three sen and 19.5 sen respectively.

The FBM Emas Index rose 33.28†points to 12,983.65, the FBMT 100 Index increased 30.34 points to 12,778.28,†the FBM Emas Shariah Index was†up 13.83 points to 13,084.03 and the FBM 70 edged up 25.06 points to 15,280.55.

The FBM Ace declined†32.42 points to 5,463.54.

Sector-wise, the Finance Index improved†11.809 points to 18,386.53 and the Industrial Index increased 17.09 points to 3,305.52, but the Plantation Index eased 7.1 points to 8,005.71.

Gainers led losers 412 to 406,†with†349 counters unchanged, 715 untraded and 20 others suspended.†

Volume stood at 1.62 billion units valued at RM1.51 billion.



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US 4.0470/0500
S'pore 2.9655/9688
100 Yen 3.5973/6010
Sterling 5.3574/3626
Euro 4.7285/7324
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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