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 (Oct 16): The FBM KLCI gained 8.1 points or 0.47% to close at its intraday high after a sudden surge in the final trading hour. At a glance, the KLCI surged as prices of index-linked stocks Hong Leong Bank Bhd and MISC Bhd spiked.
At 5pm, the KLCI closed at 1,736.84 points. Hong Leong Bank shares rose 44 sen to RM20.94 while MISC added 13 sen to RM5.68.
Both Hong Leong Bank and MISC ended among Bursa Malaysia top gainers.
Consumer stocks Carlsberg Brewery Malaysia Bhd, Dutch Lady Milk Industries Bhd and Heineken Malaysia Bhd ended among Bursa top decliners as investors’ attention appeared to have shifted away from consumer stocks to selected blue chips.
Pong said investors sold consumer stocks like Carlsberg, Dutch Lady and Heineken "as the valuation of these defensive counters have risen and investors see no further upside for the consumer sector."
Source: The Edge
Comments
Post a Comment