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 (Aug 1): The FBM KLCI rose 5.1 points or 0.3% with Asian shares as investors bargain hunted for index-linked Public Bank Bhd and Malayan Banking Bhd (Maybank) shares.
At 5pm, the KLCI closed at 1,765.13 points while Public Bank rose 32 sen to RM20.60 to become Bursa Malaysia's fourth-largest gainer.
Maybank added 11 sen to RM9.65.
Across Bursa Malaysia, 1.82 billion shares worth RM2.24 billion were traded. There were 503 decliners compared with 271 gainers.
Actively-traded stocks included Frontken Corp Bhd and ManagePay Systems Bhd.
Analysts said overall market sentiment was still negative as the number of declining stocks on Bursa Malaysia outnumbered gainers.
“There is an improvement on the composite index today. However underlying overall sentiment is still negative as there are twice as many [decliners] than gainers today,” Inter-Pacific Research Sdn Bhd research head Pong Teng Siew told theedgemarkets.com
Asian shares rose. Japan's Nikkei 225 added 0.3% while Hong Kong's Hang Seng rose 0.79%.
Reuters reported that Asian shares rose on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained.
Source: The Edge

Comments
Post a Comment