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 29): The FBM KLCI closed 5.96 points or 0.3% higher, mainly due to index-linked Tenaga Nasional Bhd's share price rise. The ringgit appreciated to its strongest level over the last one year against the US dollar at 4.0815.
At 5pm, the KLCI closed at 1,720.38 points. Tenaga shares ended 42 sen higher at RM15.40, to become the third-largest gainer on Bursa Malaysia.
Across Bursa Malaysia, 1.96 billion shares worth RM2.8 billion were traded. There were 389 gainers versus 416 decliners.
"The index (KLCI) closed slightly up mainly due to Tenaga," Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com.
In the currency markets, the ringgit appreciated to 4.0815 against a weakening US dollar at 5:35pm, while investors speculated that the Organization of the Petroleum Exporting Countries (OPEC) and Russia may extend oil supply cuts until the end of 2018 to support prices of the commodity.
Over the last one year, the exchange rate was between 4.0815 and 4.5002.
Source: The Edge
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