KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
KUALA LUMPUR (Dec 19): The FBM KLCI closed 14.69 points or 0.8% lower as investors took profit amid fund managers' window dressing.
At 5pm, the KLCI settled at 1,736.95 points. The KLCI remained in negative territory for the entire day.
“There is some serious profit-taking going on today in the market, coupled with the window-dressing activities previously. It seems that the market will normalise after this sell-off to finish between the range of 1,700 points and 1,730 points by year-end,” TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com.
From a fundamental viewpoint, Reuters quoted MIDF Amanah Investment Bank Bhd research head Redza Rahman as saying: "There is concern that with the rate hike in the US, cheap funds might flow out of the country (Malaysia)."
Across Bursa Malaysia today, there were 530 decliners and 306 advancers. Trading volume, was 3.18 billion shares worth RM2.91 billion. Yesterday, trading volume was 2.4 billion shares worth RM2.17 billion.
Today's top decliner was Petron Malaysia Refining and Marketing Bhd. Leading gainers were glove makers Hartalega Holdings Bhd, Top Glove Corp Bhd and Kossan Rubber Industries Bhd.
Source: The Edge
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