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KUALA LUMPUR (Aug 30): The FBM KLCI ended today's trade 12.02 points or 0.68% higher, after getting 11th hour boost from index-linked CIMB Group Holdings Bhd and MISC Bhd. The last minute push from CIMB and MISC was due to investors who were on the hunt for good stocks, according to Hong Leong Investment Bank Bhd's retail research analyst Loui Low Ley Yee. "In a way, the last minute boost was also part of the bourse's 'window-dressing' activity, marking a nice end to August's subdued and sideways trade as investors digest the corporate earnings announcement, which are either in-line or disappoints," Low told theedgemarkets.com in a brief telephone conversation. At 5pm today, the FBM KLCI closed at 1,773.16 points, from a previous close of 1,761.14 points on Tuesday. Some 1.83 billion shares, worth RM2.21 billion, were traded at the local bourse today, with gainers outpacing decliners at 449 counters versus 346 counters, while...

KUALA LUMPUR (Aug 29): The FBM KLCI struggled to remain above the 1,770 level today amid selling pressure, and an analyst said the benchmark index may see further declines moving forward. The KLCI closed the day 8.35 points or 0.47% lower at 1,761.14. TA Securities Holdings Bhd senior technical analyst Stephen Soo said the KLCI could come down further, to even hit April's low of 1,729 points, but sees this as a "blessing in disguise" for non-blue chips. "The FBM KLCI evidently struggles to remain above the 1,770 level and it is evident that selling pressures are still there with trading volume being thin today. I believe the index could go down to July's low of 1,750 points or lower to April's low," Soo told theedgemarkets.com. "But I see this is a blessing in disguise. When the index falls low, it becomes more attractive for the smaller players to come in at a time when the bigger counters, particularly in the banking secto...

KUALA LUMPUR (Aug 28): The FBM KLCI inched up 0.32 points or 0.02% to settle at 1,769.49 today, on the back of last minute buying of selective index heavyweights, which sent the KLCI marginally higher. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the benchmark index was in a tight range today, after being dragged by the refinery sector earlier in the day, like Hengyuan Refining Company Bhd and Petron Malaysia Refining & Marketing Bhd. Consumer products also weighed on the index, such as Ajinomoto (M) Bhd and Dutch Lady Milk Industries Bhd. "There was last minute buying from investors on selective index heavyweights, which sent the KLCI marginally higher in the last minutes before trading ended," he said. Among them were Westports Holdings Bhd, CIMB Group Holdings Bhd, and Malayan Banking Bhd. Nevertheless, he said the KLCI remained sluggish in the final hour of trading, despite hovering in the positive territory, due mainly to pr...