KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
It's a good day for FBM KLCI, as it closed higher for its third consecutive day, after the US revised higher its third quarter economic growth. Malaysian shares rose in line with most Asian markets.
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| Positive for FBM KLCI |
At 5pm today, KLCI rose 3.61 points to close at 1842.17. (it's 0.2% increase), thanks to gain from stocks such as Maybank, Tenaga as well as British American Tobacco (BAT). The KLCI is supported by the regional positive sentiment especially after Reuters reported the US government upgraded its reading on third quarter gross domestic product (GDP) growth to 3.9 percent on Tuesday, from 3.5 percent reported last month.
BAT is the top gainer while Dutch Lady Milk Industries Bhd is a top loser.
In the region, the markets were mostly up, while Hong Kong’s Hang Seng rose 1.12%, while South Korea’s Kospi gained 0.03%.
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