KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
FBM KLCI goes up by 0.9%, following the Asian region trend. This came as the market sentiment improved, due to oil gain. At 5pm, the KLCI closed at 1,664.99 points. Gains in counters such as SapuraKencana Petroleum Bhd and UMW Holdings Bhd supported the index's advance.
Brent crude surged above US$35 a barrel as energy ministers from Saudi Arabia and Russia, two of the world's biggest oil producers, met in Doha on Tuesday to discuss the market.
Bursa Malaysia saw 1.8 billion shares worth RM1.77 billion traded. Gainers outnumbered decliners at 551 against 303.
Hubline Bhd was the most-actively traded stock. The leading gainer was Genting Bhd.
British American Tobacco (M) Bhd and Petronas Gas Bhd were among the biggest decliners.
Asian stock indices rose. In China, the Shanghai Composite gained 3.29%, while Hong Kong's Hang Seng climbed 1.08%.
Japan's Nikkei 225 rose 0.2% while South Korea's Kospi was up 1.4%.
Asian shares extended gains today as a combination of stabilising Chinese markets, rebounding oil prices and solid US consumption data prompted investors to look for bargains after last week's rout.
 |
| FBM KLCI increased by 0.9% |
Brent crude surged above US$35 a barrel as energy ministers from Saudi Arabia and Russia, two of the world's biggest oil producers, met in Doha on Tuesday to discuss the market.
Bursa Malaysia saw 1.8 billion shares worth RM1.77 billion traded. Gainers outnumbered decliners at 551 against 303.
Hubline Bhd was the most-actively traded stock. The leading gainer was Genting Bhd.
 |
| Top Active |
 |
| Top Gainer |
British American Tobacco (M) Bhd and Petronas Gas Bhd were among the biggest decliners.
 |
| Top Loser |
Japan's Nikkei 225 rose 0.2% while South Korea's Kospi was up 1.4%.
Asian shares extended gains today as a combination of stabilising Chinese markets, rebounding oil prices and solid US consumption data prompted investors to look for bargains after last week's rout.
Comments
Post a Comment