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.
The US stock market opened higher ahead of the widely anticipated rate hike by the US Federal Reserve, the first of the anticipated three hikes for 2017.
One of the stock market that we have been keeping an eye on is Microsoft since 2014, which continued to move higher along with the broader market, gaining 0.16% to US $64.51, giving it a market capitalization of US $497.7 billion.
The recovery in the stock market was buoyed by the rebound in oil prices.
The Dow Jones Industrial Average rose 0.21% to 20,880.15 while the S&P 500 gained 0.36% to 2,373.98. The Nasdaq Composite added 0.18% to 5,867.125.
One of the stock market that we have been keeping an eye on is Microsoft since 2014, which continued to move higher along with the broader market, gaining 0.16% to US $64.51, giving it a market capitalization of US $497.7 billion.
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