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 8): The FBM KLCI closed 6.74 points or 0.4% lower
on profit taking and after China announced October export growth slowed to 6.9% from a year earlier.
At Bursa Malaysia, the KLCI closed at 1,744.2 points at 5pm. Investors took profit today after the index rose 8.65 points yesterday to 1,750.94 points.
AmInvestment Bank Bhd research analyst Lim Sae Wai told theedgemarkets.com that Malaysian companies' quarterly earnings announcements had not been able to sustain the KLCI's uptick.
“The KLCI needed a few more points to break (the) resistance. While technical indicators provide a slight bearish view, we can give it more time to see which direction the market is heading to," Lim said.
Across Bursa Malaysia, decliners led gainers by 443 against 342 respectively. A total of 2.6 billion shares valued at RM2.14 billion changed hands.
Top decliner was Petronas Dagangan Bhd followed by Petronas Gas Bhd.
China's latest external trade numbers could have also affected global share-trade sentiment.
Reuters reported that China's October exports lagged market expectations, rising 6.9 percent from a year earlier while imports beat forecasts, growing 17.2 percent, official data showed on Wednesday.
Analysts polled by Reuters had expected October shipments from the world's largest exporter to have risen 7.2 percent, slower than the 8.1 percent in the previous month.
Source: The Edge

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