KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
KUALA LUMPUR (Jan 10): The FBM KLCI closed up 11.05 points or 0.66% after a late spike in Maxis Bhd and Tenaga Nasional Bhd share prices led to the KLCI's sharp rise in the final trading minutes.
At 5pm, the KLCI closed at 1,678.88. Maxis closed up 18 sen or 3.3% at RM5.64 while Tenaga rose 20 sen or 1.46% to RM13.86.
On the KLCI, Public Investment Bank Bhd analyst Lee Siao Ping said: “The buying interest is there, but the selling interest is equivalent. A bullish trend can only be confirmed if the KLCI breaks the 1,700 barrier next week.”
Across Bursa Malaysia today, 3.45 billion shares worth RM2.66 billion exchanged hands. Top gainers included Nestle (M) Bhd, Petronas Gas Bhd and MISC Bhd.
In currency markets, the ringgit strengthened to 4.099 against the US
dollar at the time of writing. The exchange rate reached 4.0935 earlier
today.
Bloomberg reported that the ringgit rose to the highest in more than four months after WTI crude entered a bull market and the dollar faltered again.
Reuters reported that Asian shares edged up on Thursday on a weaker dollar and hopes of more economic stimulus in China, but many stocks see-sawed as markets awaited some details on this week's US-China trade talks amid hopes an all-out trade war can be averted.
Source: The Edge
Bloomberg reported that the ringgit rose to the highest in more than four months after WTI crude entered a bull market and the dollar faltered again.
Reuters reported that Asian shares edged up on Thursday on a weaker dollar and hopes of more economic stimulus in China, but many stocks see-sawed as markets awaited some details on this week's US-China trade talks amid hopes an all-out trade war can be averted.
Source: The Edge
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