KUALA LUMPUR, April 23 (Bernama) -- Bursa Malaysia closed higher today, lifted by selective buying in banking and telecommunications heavyweights amid improved sentiment following the extended ceasefire in West Asia. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.31 points, or 0.66 per cent, to 1,721.70 from Wednesday’s close of 1,710.39. The benchmark index opened 5.16 points higher at 1,715.55, and moved between 1,714.41 and 1,723.51 throughout the day. In the broader market, gainers outpaced losers 706 to 485, while 562 counters were unchanged, 1,018 untraded and 43 suspended. Turnover expanded to 3.48 billion units valued at RM3.10 billion from 3.19 billion units valued at RM2.69 billion on Wednesday.
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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