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 (Feb 27): The FBM KLCI gained 11.38 points or 0.61%, lifted mainly by banking stocks. At 5pm, the KLCI closed at 1,871.46 points.
Bursa Malaysia's finance index rose 201.41 points or 1.11% to settle at 18,299.16 points as Hong Leong Financial Group Bhd and Hong Leong Bank Bhd shares emerged among Bursa Malaysia's top 10 gainers.
“On a technical basis, the KLCI should continue to see an uptrend to about 1,880 level. If there is any negative external surprise, we should see a support level at about 1,840 to 1,850,” Hong Leong Investment Bank head of retail research Loui Low said.
Across Asian markets, Japan’s Nikkei 225 gained 1.07%, Hong Kong’s Hang Seng fell 0.73% while South Korea’s Kospi slipped 0.06%.
Reuters reported that global shares held firm near three-week highs on Tuesday as US borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell's awaited first congressional testimony later in the day. Powell's debut appearance is seen as critical for financial markets at a time when many investors are nervous about the Fed's policy normalisation following years of stimulus after the financial crisis almost a decade ago.
Source: The Edge

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