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 31): The FBM KLCI closed 13.99 points or 0.79% higher at its intraday high after investors bought KLCI-linked stocks including Tenaga Nasional Bhd and Hong Leong Financial Group Bhd. At 5pm, the KLCI settled at 1,784.25 points.
The KLCI's rise today was apparent when Bursa Malaysia resumed trading in the afternoon as KLCI-linked stocks emerged among the bourse's top gainers. Hong Leong Investment Bank Bhd head of retail research Loui Low said the KLCI's rise could be due to China Foreign Minister Wang Yi's two-day visit to Malaysia starting today.
Low said the visit "could lead to some positive developments for the bilateral relationship between Malaysia and China."
Across Bursa Malaysia, 2.71 billion shares worth RM3.05 billion were transacted. Top gainer Tenaga added 54 sen to close at RM15.68 while Hong Leong Financial added 28 sen to close at RM18.08.
Bursa Malaysia's most-active stocks included My E.G. Services Bhd (MyEG) and Cuscapi Bhd with a trade volume of some 65 million and 60 million shares respectively. MyEG added 10 sen to close at RM1.24 while Cuscapi rose three sen to 31.5 sen.
Source: The Edge

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