KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (Dec 21): The FBM KLCI gained 4.58 points or 0.3%, mainly on late buying of Petronas Gas Bhd shares amid fund managers' extended window dressing activities.
At 5pm, the KLCI closed at 1,751.21 points. Petronas Gas rose 58 sen to RM16.96 to become Bursa Malaysia's biggest gainer.
Across Bursa Malaysia, decliners outweighed gainers at 440 to 375 respectively. Trading volume was 2.48 billion shares worth RM2.06 billion.
Malacca Securities Sdn Bhd senior research analyst Kenneth Leong told theedgemarkets.com that the KLCI benefitted from fund managers' extended window dressing particularly on Petronas-related counters like Petronas Gas and Petronas Chemicals Group Bhd.
“We expect the market to be muted moving into the post-Christmas holiday period as investors lock in their profits. We were seeing some of them doing so today judging from the negative market breadth,” Leong said.
Across Asian share markets, Japan’s Nikkei 225 fell 0.11% while South Korea's Kospi declined 1.72%. Hong Kong's Hang Seng gained 0.45%.
Reuters reported that Asian markets offered a muted reception on Thursday to the passage of US tax cuts as benefits to company bottom lines were already factored into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
It was reported that South Korea was dragged down by weakness in Samsung, but Indonesia rose after Fitch upgraded the country's credit rating.
Source: The Edge
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