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 21): The FBM KLCI closed down 2.54 points today at 1,771.04 as its constituent stocks ranked among the top losers for the day.
Petronas Gas Bhd, British American Tobacco (M) Bhd and Hong Leong Industries Bhd were among the top losers. Also down was Genting Bhd, Genting Malaysia Bhd and Hong Leong Financial Group Bhd.
Stocks have been trading in a tight range, but the market saw a sizable volume of 3.25 billion shares valued at RM2.41 billion, noted Pong Teng Siew, head of research at Inter-Pacific Securities Sdn Bhd noted.
"There was heavy volume on some of the oil and gas counters, which are retreating on high volume after having made gains on similar volumes,” Pong told theedgemarkets.com
Hibiscus Petroleum Bhd and UMW Oil and Gas Corp Bhd were the top two most active counters, followed by Trive Property Group Bhd.
Meanwhile, semiconductor counters retook the limelight as top gainers with counters such as KESM Industries Bhd and Pentamaster Bhd alsp rising.
Overall, 434 counters closed lower compared to 378 gainers, while 438 counters closed unchanged.
Meanwhile, the US Federal Reserve’s "great unwinding" of its monetary policy and a December rate hike brought down Asian shares.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5%, with Australian shares declining most by 0.8%, Reuters reported.
Source: The Edge

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