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 (July 24): The FBM KLCI gained 4.97 points or 0.28% amid positive investment sentiment across Bursa Malaysia technology, construction and property shares. At a glance, the FBM KLCI's rise also mirrored gains in China stock markets.
At Bursa Malaysia, the KLCI closed at 1,762.93 points at 5pm. Bursa Malaysia's technology, construction and property indices gained 1.68%, 1.08% and 1.5% respectively.
"Given the renewed buying momentum (in the KLCI) following yesterday's rise, there may be more upside with profit-taking well-absorbed by fresh bargain hunting interest, specifically on construction-related stocks," TA Securities Holdings Bhd wrote in a note today.
Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com: “I think we’re in a trading position right now. It’s not for long-term holdings and I think the recovery should be for the short term.”
The KLCI extended gains after increasing 3.29 points yesterday on
what appeared to be a reaction to news that the Malaysian Investment
Development Authority had a total of 402 projects with proposed
investment of RM75 billion as at May 2018.
Across Bursa Malaysia today, 3.35 billion shares worth RM2.69 billion were traded. Notable among top gainers and most-active stocks was newly-listed Radiant Globaltech Bhd. Radiant shares rose 30 sen to close at 53 sen with some 180 million units traded.
Malaysian and Asian shares took cue from China stock markets. In China, the Shanghai Stock Exchange Composite rose 1.61% while Hong Kong's Hang Seng added 1.44%.
Japan's Nikkei 225 was up 0.51% while South Korea’s Kospi climbed 0.48%.
Reuters reported that Shanghai shares led Asia higher on Tuesday as China touted fiscal action to support the world's second largest economy, while stellar results from internet giant Alphabet underpinned the tech sector generally.
It was reported that global bonds remained under pressure on speculation the Bank of Japan may soon trim its massive stimulus. In China, government bond yields jumped and the offshore yuan hit a one-year low after China's Cabinet said it would pursue a more vigorous fiscal policy and as traders bet on further easing in monetary conditions.
Source: The Edge
Across Bursa Malaysia today, 3.35 billion shares worth RM2.69 billion were traded. Notable among top gainers and most-active stocks was newly-listed Radiant Globaltech Bhd. Radiant shares rose 30 sen to close at 53 sen with some 180 million units traded.
Malaysian and Asian shares took cue from China stock markets. In China, the Shanghai Stock Exchange Composite rose 1.61% while Hong Kong's Hang Seng added 1.44%.
Japan's Nikkei 225 was up 0.51% while South Korea’s Kospi climbed 0.48%.
Reuters reported that Shanghai shares led Asia higher on Tuesday as China touted fiscal action to support the world's second largest economy, while stellar results from internet giant Alphabet underpinned the tech sector generally.
It was reported that global bonds remained under pressure on speculation the Bank of Japan may soon trim its massive stimulus. In China, government bond yields jumped and the offshore yuan hit a one-year low after China's Cabinet said it would pursue a more vigorous fiscal policy and as traders bet on further easing in monetary conditions.
Source: The Edge
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