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 20): The FBM KLCI fell by a marginal 1.33 points or 0.07% to close at 1,855.99 today as investors took profit after yesterday’s gains.
The benchmark index’s softer finish was in line with the lower trend in other Asian markets. Japan’s Nikkei closed 1.01% lower, Hong Kong’s Hang Seng Index 0.78% lower, and South Korea’s KOSPI 1.13% lower.
Malacca Securities Sdn Bhd head of research Victor Wan said the profit taking was "very much expected" after most Asian stocks traded positively yesterday.
“We have recovered quite a substantial bit after the recent selldown earlier in February,” Wan told the theedgemarkets.com.
“The market’s performance in the near term has got to depend on the corporate earnings announcements this month,” he said. “Last week we saw an encouraging set of economic data, and now we have to see if these data will be reflected in the corporate earnings as well.
Bursa Malaysia saw a total of 2.28 billion shares, worth RM2.1 billion, traded today.
There were 409 gainers versus 556 losers, while 346 counters remained unchanged.
The gainers were led by Nestle (M) Bhd while Hengyuan Refining Co Bhd was the biggest loser.
Sino Hua-An International Bhd was the most actively-traded counter, with 98.79 million shares done.
Source: The Edge
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