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Thursday, July 27, 2017

Market Daily Report: FBM KLCI up after US maintains interest rates; CIMB rises






KUALA LUMPUR (July 27): The FBM KLCI rose 4.07 points or 0.2% with Asian shares after the US Federal Reserve left interest rates unchanged.

A 5pm, the KLCI closed at 1,770.07 points The KLCI traded between its intraday high and low at 1,772.03 and 1,765.84 points respectively.

“The higher movement is in line with the rest of Asia after the Federal Reserve's decision,” Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com.

Across Asian share markets, Japan’s Nikkei 225 rose 0.15% while Hong Kong’s Hang Seng gained 0.71%. South Korea’s Kospi increased 0.36%.

Reuters reported that stocks, bonds and commodities were all on a roll on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer.

The Federal Reserve kept its benchmark lending rate in a target range of one percent to 1.25 percent, as expected, and said it was on track to continue the slow path of monetary tightening that has lifted rates by a percentage point since 2015.

At Bursa Malaysia today, 1.59 billion shares worth RM1.97 billion were traded. There were 400 gainers and 381 decliners.

CIMB Group Holdings Bhd was a notable stock today. CIMB shares rose 19 sen to close at RM6.59 to become Bursa Malaysia's sixth-largest gainer.

CIMB, which was also the sixth most-active stock, saw some 25 million shares traded.

Source: The Edge

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