KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
The market
is behaving like a yo-yo and today, we have a better side of things. It’s an
uptrend and we’re looking at a jump for FBM KLCI by 0.27% or 4.56 points to
1,690.91.
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| FBM KLCI closed higher as oil rebound |
There is still no clear signal of breaking the 1,700 mark but things
have been slightly more positive now.
Across
Bursa Malaysia, we saw 1.72 billion shares traded worth RM1.81 billion. There
are 441 winners compared to the 355 losers while another 353 is unchanged.
Regionally,
things are also looking better except for the volatile China.
The
positive sentiment was mainly driven by the rebound of crude oil price and the
expectation of policy easing by the European Central Bank (ECB) later in the
day.
In Bursa,
the top gainer is Kossan Rubber Industries Bhd while leading the decliners was
British American Tobacco (M) Bhd. The warrants of AirAsia X and RedSena
dominated the top active counters.
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