KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Aug 24): The FBM KLCI rose 2.56 points or 0.1% on late buying of CIMB Group Holdings Bhd and IOI Corp Bhd shares. CIMB and IOI Corp helped the KLCI erase losses at the 11th hour.
At 5pm, the KLCI closed at 1,775.50 points after falling to its intraday low at 1,768.52 points. IOI Corp rose 14 sen to RM4.59 to become Bursa Malaysia's sixth-largest gainer.
“Crude palm oil has been on a rally recently, and this — coupled with the fact that IOI Corp has yet to announce the latest quarterly report, may add to the positive sentiment,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
CIMB shares fell two sen to RM6.72 after falling to its intraday low at RM6.51 ahead of the financial services entity's second quarter results announcement this Monday.
Across Bursa Malaysia today, 2.13 billion shares worth RM1.98 billion changed hands. A total of 425 counters ended higher versus 356 decliners.
APFT Bhd was the most-actively traded counter with some 251 million shares transacted. The stock fell 0.5 sen to close at 2.5 sen.
Source: The Edge
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