KUALA LUMPUR, June 5 (Bernama) -- Bursa Malaysia closed higher, with the benchmark index rising 0.60 per cent as bargain-hunting persisted following the recent sell-off, despite weaker performances across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.17 points to 1,693.43 from Thursday's close of 1,683.26. The benchmark index opened 3.19 points higher at 1,686.45 and traded between 1,684.36 and 1,698.53 during the trading session. However, broader market sentiment remained negative, with losers outnumbering gainers 666 to 477. A total of 574 counters were unchanged, 958 untraded and 12 suspended. Turnover fell to 3.41 billion units worth RM3.04 billion from 3.47 billion units worth RM3.58 billion on Thursday.
KUALA LUMPUR (Nov 16): The FBM KLCI closed 4.88 points or 0.3% lower amid bearish technical signals, acccording to analysts. At 5pm, the KLCI closed at 1,718.11 points.
AmInvestment Bank Bhd analyst Lim Sae Wai told theedgemarkets.com that the KLCI had been showing bearish technical indicators since the middle of October this year.
"My technical analysis has been showing a bearish signal in the FBM KLCI since the middle of October. So in the immediate term, we might see a potential technical rebound in the market. However, I am of the opinion that it may not last long," Lim said.
Today, TA Securities Holdings Bhd wrote in a note: "The weaker tone on global markets and negative technical momentum should increase cautious sentiment and discourage investors to the sidelines."
Across Bursa Malaysia, decliners led gainers at 614 against 265 respectively. A total of 2.44 billion shares worth RM2.48 billion exchanged hands.
Top decliners included SAM Engineering & Equipment (M) Bhd and Dutch Lady Milk Industries Bhd. Top gainer was Kossan Rubber Indstries Bhd.
Source: The Edge
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