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 (Sept 13): The FBM KLCI shed 3.79 points or 0.2% on profit taking after the index breached the 1,790-point level in intraday trade.
At 5pm, the KLCI closed at 1,786.07 points after rising to its intraday high at 1,793.22 points. The KLCI had earlier risen after the US' S&P 500 closed at a record high overnight on Tuesday.
In Malaysia today, Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com that “the (KLCI's) lower performance is actually a healthy pullback for the market, as you can see that the trading volume remains strong at 2.7 billion shares.
"The broader market is still positive.”
Across Bursa Malaysia, the 2.7 bllion share-trade volume was worth RM1.85 billion. Decliners outnumbered gainers at 462 to 362 respectively.
DBE Gurney Resources Bhd was the most-active stock. DBE shares closed 0.5 sen higher at 3.5 sen with some 193 million units traded.
Malaysian shares tracked overnight US share gains. Reuters reported that the Dow Jones Industrial Average rose 61.49 points or 0.28 percent to 22,118.86, the S&P 500 gained 8.37 points or 0.34 percent to 2,496.48 and the Nasdaq Composite added 22.02 points or 0.34 percent to 6,454.28.
It was reported that the S&P 500 hit a record closing high for the second day in a row on Tuesday, with financial stocks leading the charge, but gains were stunted by a decline in Apple Inc shares after it unveiled its latest iPhone.
Source: The Edge
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