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.
KUALA LUMPUR (July 27): The FBM KLCI rose 4.07 points or 0.2% with Asian shares after the US Federal Reserve left interest rates unchanged.
A 5pm, the KLCI closed at 1,770.07 points The KLCI traded between its intraday high and low at 1,772.03 and 1,765.84 points respectively.
“The higher movement is in line with the rest of Asia after the Federal Reserve's decision,” Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com.
Across Asian share markets, Japan’s Nikkei 225 rose 0.15% while Hong Kong’s Hang Seng gained 0.71%. South Korea’s Kospi increased 0.36%.
Reuters reported that stocks, bonds and commodities were all on a roll on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer.
The Federal Reserve kept its benchmark lending rate in a target range of one percent to 1.25 percent, as expected, and said it was on track to continue the slow path of monetary tightening that has lifted rates by a percentage point since 2015.
At Bursa Malaysia today, 1.59 billion shares worth RM1.97 billion were traded. There were 400 gainers and 381 decliners.
CIMB Group Holdings Bhd was a notable stock today. CIMB shares rose 19 sen to close at RM6.59 to become Bursa Malaysia's sixth-largest gainer.
CIMB, which was also the sixth most-active stock, saw some 25 million shares traded.
Source: The Edge
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