KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
Much has been debated and argued about the GE13 results. Well, it doesn't matter because foreign investors are showing their confidence as the market open today.
Affin Investment Bank Head for Retail Research Dr Nazri Khan said the participation of many foreign investors in the local bourse today was a clear signal of their confidence in the Malaysian economy.
“Bursa Malaysia soared to a new high of more than 1,800 points and this clearly showed foreign investors’ confidence in the government’s development projects.
“In fact, Bursa Malaysia received an injection of RM2 billion in foreign funds during the morning session today which is the highest recorded thus far,” he told reporters here Monday.
Of course, there might be a lot of argument that these are all manipulation but then again, assuming that the momentum is maintain, we are talking about revising the target to 1,830 points by year end.
So far, BN win has also had a positive impact on the cash and foreign exchange market while the entry of foreign investors has helped the movement of the ringgit, which rose to a 10-month high of 2.9870 against the US dollar.
Well, if you are still upset about BN win in the election, maybe this will help to cheer you up.
Affin Investment Bank Head for Retail Research Dr Nazri Khan said the participation of many foreign investors in the local bourse today was a clear signal of their confidence in the Malaysian economy.
“Bursa Malaysia soared to a new high of more than 1,800 points and this clearly showed foreign investors’ confidence in the government’s development projects.
“In fact, Bursa Malaysia received an injection of RM2 billion in foreign funds during the morning session today which is the highest recorded thus far,” he told reporters here Monday.
Of course, there might be a lot of argument that these are all manipulation but then again, assuming that the momentum is maintain, we are talking about revising the target to 1,830 points by year end.
So far, BN win has also had a positive impact on the cash and foreign exchange market while the entry of foreign investors has helped the movement of the ringgit, which rose to a 10-month high of 2.9870 against the US dollar.
Well, if you are still upset about BN win in the election, maybe this will help to cheer you up.
Comments
Post a Comment