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 17): The FBM KLCI increased 10.61 points or 0.61% after
Public Bank Bhd shares jumped in the final trading minutes and as
foreign selling of Malaysian shares appeared to have eased.
At 5pm, the KLCI ended at its intraday high at 1,737.28 points. Bursa Malaysia top gainer Public Bank rose 58 sen to RM23.60. Gains in other KLCI-linked counters like Digi.Com Bhd and Tenaga Nasional Bhd also lifted the KLCI.
Hong Leong Investment Bank Bhd head of retail research Loui Low said: "Foreign selling of Malaysian shares has narrowed and it is a good sign for investors."
Across Asian stock markets, Japan’s Nikkei 225 was up 0.44%, South Korea's Kospi fell 0.18% while Hong Kong's Hang Seng was 1.25% lower.
Reuters reported that Asian stocks were mostly lower on Tuesday, with a sharp decline in crude oil prices weighing on energy shares, while the dollar dipped ahead of Federal Reserve Chairman Jerome Powell's first US congressional testimony.
In Malaysia tomorrow (July 18), the Statistics Department is scheduled to announce the nation's June 2018 inflation numbers. Reuters reported that its poll showed that Malaysia's annual inflation rate likely eased to 1.3 percent in June from 1.8 percent the previous month, thanks to the withdrawal of the goods and services tax.
Source: The Edge
At 5pm, the KLCI ended at its intraday high at 1,737.28 points. Bursa Malaysia top gainer Public Bank rose 58 sen to RM23.60. Gains in other KLCI-linked counters like Digi.Com Bhd and Tenaga Nasional Bhd also lifted the KLCI.
Hong Leong Investment Bank Bhd head of retail research Loui Low said: "Foreign selling of Malaysian shares has narrowed and it is a good sign for investors."
Across Asian stock markets, Japan’s Nikkei 225 was up 0.44%, South Korea's Kospi fell 0.18% while Hong Kong's Hang Seng was 1.25% lower.
Reuters reported that Asian stocks were mostly lower on Tuesday, with a sharp decline in crude oil prices weighing on energy shares, while the dollar dipped ahead of Federal Reserve Chairman Jerome Powell's first US congressional testimony.
In Malaysia tomorrow (July 18), the Statistics Department is scheduled to announce the nation's June 2018 inflation numbers. Reuters reported that its poll showed that Malaysia's annual inflation rate likely eased to 1.3 percent in June from 1.8 percent the previous month, thanks to the withdrawal of the goods and services tax.
Source: The Edge
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