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 (Aug 30): The FBM KLCI closed slightly lower today on profit taking in some index-related counters ahead of the National Day holiday tomorrow and due to disappointing earnings. The KLCI closed 0.05% or 0.98 point lower at 1,819.66. A look at the market breath saw the decliners leading gainers by 685 to 299, while 350 counters traded unchanged. A total of 2.63 billion shares worth RM2.96 billion changed hands in the open market. Top gainers included British American Tobacco (M) Bhd, while Supermax Corp Bhd led decliners. Hibiscus Petroleum Bhd was the day's most active counter. Hong Leong Investment Bank's head of retail research Loui Low said the KLCI was impacted by profit-taking activities in selected counters. "There is also a sharp selldown in the broader market as earnings results have been mixed with a slight bias towards negative," Low said, citing Telekom Malaysia Bhd as an example. He added that the selling pr...