Bursa Malaysia advances 2.6%; trading volume doubles

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KUALA LUMPUR (March 15): Bursa Malaysia Bhd shares rose 2.6 percent, more than any full-day gain since June 1, as Malaysia's benchmark index advanced.

Market Metrics

* Shares advanced to RM7.03 from RM6.85 in the previous session.

* Trading volume was more than double the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 0.2 percent, and the MSCI AC Asia Pacific Index rose 0.9 percent.

Market Insights

* In the past year, the stock had a similar or greater gain five times at the close; it advanced in the next trading session once (0.7 percent) and declined three times (1.3 percent, on average).

* Shares are at a 4.9 percent discount to the analysts' consensus target price. The stock traded at an average 2.2 percent discount over the past year.

* Maybank Kim Eng analyst Chew Hann Wong upgraded the recommendation on Bursa Malaysia to hold and assigned a target price of RM6.45 yesterday.

* Stock declined 7.1 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 9.1 percent.