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Friday, August 4, 2017

Market Daily Report: FBM KLCI higher on Petronas Dagangan as Asian shares fall





KUALA LUMPUR (Aug 3): The FBM KLCI rose 1.29 points or 0.1% after volatile trade mainly on late buying of index-linked Petronas Dagangan Bhd shares. The KLCI rose as Asian shares fell.

At Bursa Malaysia, the KLCI closed at 1,771.90 points after reaching its intraday high and low at 1,772.59 and 1,768.05 points respectively. Petronas Dagangan shares climbed 28 sen to RM24.02 to become Bursa Malaysia's second-largest gainer.

Across Bursa Malaysia, 1.75 billion shares valued at RM1.746 billion were traded. There were 429 decliners and 336 gainers.

“The increased buying support in the local telco heavyweights, positive sentiment on Wall Street as well as the increase in crude oil prices also contributed to the index’s (KLCI) performance today,” Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com

Asian shares declined. Japan's Nikkei 225 fell 0.25%, Hong Kong’s Hang Seng declined 0.28% while South Korea’s Kospi closed 1.68% lower.

Reuters reported that world stock markets fell on Thursday, led by a tumble in tech shares as investors locked in recent gains after Wall Street's Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.

It was reported that Japan's Nikkei share average fell as investors engaged in profit taking of tech shares which rallied the previous day on Apple's strong quarterly earnings.


Source: The Edge

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