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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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Market Daily Report: KLCI down with Petronas Dagangan, KLK as Bursa volume falls



KUALA LUMPUR (Dec 21): The FBM KLCI fell 4.93 points or 0.3% mainly on late selling of Petronas Dagangan Bhd and Kuala Lumpur Kepong Bhd (KLK) shares. The KLCI fell amid lower Bursa Malaysia share-trade volume possibly due to the year-end holiday season.
At 5pm, the KLCI closed at 1,629.59 points. Petronas Dagangan fell 22 sen to RM23.52 while KLK dropped 14 sen to RM23.66.

Petronas Dagangan and KLK were Bursa Malaysia's third and fifth-largest decliners respectively as investors took profit following both stock's recent gains.

Bursa Malaysia saw 1.16 billion shares valued at RM1.56 billion traded. There were 353 gainers and 369 decliners.

Yesterday, the bourse saw 1.29 billion shares transacted.

Today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew said: "A lot of fund managers and investors are probably on vacation right now, which is apparent, looking at the thin trading volume of shares."

"Nonetheless, with careful stock picking, there could be some opportunities in some small caps, which are doing reasonably alright. The blue chips on the other hand are not that exciting at this point," he told theedgemarkets.com.

Source: The Edge
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