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.
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| FBM KLCI closed marginally lower |
Malaysians who are in the stock market must be fascinated with the stock market movement because of its volatility. The fluctuation of the market happened in a period of the financial reporting season in the country.
The KLCI fell to 1,674.59 despite a rise in major Asian share markets. Japan's Nikkei 225 rose 0.9% while Hong Kong's Hang Seng added 0.93%.
Across the Malaysian market, 1.62 billion shares worth RM1.64 billion changed hands. Bursa seen the market closed with 468 gainers versus 364 decliners.
Export-driven stocks such as Top Glove Corp Bhd and PIE Industrial Bhd were among the top ten gainers.
The leading decliner was British American Tobacco (M) Bhd.
The most-active stock was APFT Bhd.
Asian share markets rose on Monday, extending last week's gains, as investors awaited a rush of February industry surveys to take the pulse of the global economy, while the sterling stumbled on concerns the UK might yet vote to leave the European Union, according to Reuters.
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