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 (Nov 30): The FBM KLCI fell 2.52 points or 0.1% after a sharp drop in the last few minutes of trade, weighed down by Genting Bhd, Petronas Gas Bhd and Public Bank Bhd share losses.
At 5pm, the KLCI closed at 1,717.86 points. Genting declined 13 sen to RM8.80, Petronas Gas dropped 28 sen to RM15.88 while Public Bank fell 36 sen to RM19.90.
Public Bank and Petronas Gas were Bursa Malaysia's fifth and ninth largest decliners respectively.
Across Bursa Malaysia, 2.47 billion shares worth RM6.03 billion were traded. Decliners outpaced gainers at 461 to 340 respectively. Yesterday, the bourse registered a volume of 1.96 billion shares valued at RM2.8 billion.
Today, analysts said banking stocks were in the spotlight. “There may be some added concern over the (financial) results of banks,” said Kenny Yee, head of research at Rakuten Trade Sdn Bhd.
Yee said this as Malaysia's corporate financial reporting season for the July-to-September quarter concludes today. Tomorrow (Dec 1), Malaysian markets will be closed for a public holiday in conjunction with Prophet Muhammad's birthday.
Source: The Edge
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