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 2): The FBM KLCI pared losses for a 2.88-point or 0.2% drop as investors bargain hunted for blue-chip stocks in the afternoon. The month of November is when Malaysia's July-September quarter corporate financial reporting starts in earnest.
At 5pm today, the KLCI closed at 1,741.05 points after hitting its intraday low at 1,739.80 points.
“Better third quarter results can provide a catalyst for the local market, which has lagged behind regional peers,” Areca Capital Sdn Bhd chief executive Danny Wong Teck Meng told theedgemarkets.com.
Across Bursa Malaysia, 2.91 billion shares valued at RM2.09 billion exchanged hands. Decliners led gainers by 474 to 329 respectively.
Elsewhere, Asian share markets closed mixed as strong earnings prospects lifted Japan’s Nikkei 225 by 0.53%. Hong Kong’s Hang Seng dipped 0.26% while South Korea’s Kospi slipped 0.4%.
Reuters reported that Japan's Nikkei share average extended its strong rally to top a new 21-year peak on Thursday, ahead of a long weekend, with investors piling into miners and companies such as Honda Motor and Sony on robust earnings prospects. Japanese markets will be closed for a national holiday on Friday.
Source: The Edge

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