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 (March 19): The FBM KLCI closed 1.55 points or 0.1% higher as share trade volume across Bursa Malaysia fell below two billion. The KLCI erased losses to finish at 1,847.94 on bargain hunting and as Asian share markets ended mixed.
Japan's Nikkei 225 dropped 0.9%, South Korea's Kospi fell 0.76% while Hong Kong’s Hang Seng erased losses to close 0.04% higher.
Reuters reported that Asian share markets traded mixed on Monday as caution gripped investors in a week in which the Federal Reserve is likely to hike US interest rates and perhaps signal that as many as three more lie in store for the rest of the year. The Federal Reserve is scheduled to announce on Wednesday (March 21) the US' interest rate decision.
In Malaysia today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com: “Market up because of the Friday close of the US Dow Jones Industrial Average, and the backdrop was generally okay for the global markets.”
Today, the KLCI closed higher after falling to its intraday low at 1,845.45. Pong said investors had bargain hunted for KLCI-linked telecommunication, banking and plantation stocks.
Across Bursa Malaysia, 1.94 billion shares worth RM1.68 billion were traded. On Friday, the bourse saw 2.88 billion shares worth RM4.26 billion transacted.
Source: The Edge
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