KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
The FBM KLCI fell by 4.78 points or 0.3% as Budget day 2017 draws closer and speculators are looking at a possible early election in the country as well. The KLCI closed at 1,664.72 points as at closing. FBM KLCI fell by 4.78 pts as Budget day 2017 draws closer The market has been heading south throughout the day in general with the benchmark falling to as low as 1,661.58 before recovering towards the closing. There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement. Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com. Unlike Malaysia, Asian shares have shown slight recovery. Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while U...