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 21): The FBM KLCI gained 2.18 points or 0.12% to close at 1,858.17 today on marginally improved market sentiment as investors focussed on fourth quarter financial results.
"The local market is currently not so heavily affected by other international markets, as local investors are shifting their focus to the Malaysian corporate results season," said Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said.
"So far, most companies reported year-on-year fourth quarter improvement. As it is still going on, we just need to wait and see if this improvement is broad-based," Wong told theedgemarkets.com.
JF Apex Securities Bhd research analyst Lee Cherng Wee said the KLCI only rose marginally today as there were not many positive surprises from the financial results released so far to excite the market.
A total of 2.28 billion shares worth RM2.531 billion were traded across Bursa Malaysia, with gainers leading losers 557 to 311, while 458 counters closed unchanged.
Top gainers were Ajinomoto (M) Bhd, Hengyuan Refining Company Bhd and Nestle (M) Bhd, while top losers were Dutch Lady Milk Industries Bhd, Batu Kawan Bhd and UMS Holdings Bhd.
Elsewhere in Asia, South Korea's KOSPI rose 0.55% and Hong Kong's Hang Seng rose 1.2%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7% after slipping earlier in the session following the US market losses, which snapped a six-session winning streak, Reuters reported.
Source: The Edge
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