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 (March 27): The FBM KLCI continued to head south today in the absence of positive catalysts to spark buying interest. The benchmark index closed at the lowest level this year at 1,642.73 points today, down 7.21 points or 0.44%, after it had hovered between 1,641.89 points and 1,650.22 points. Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com that while the Malaysian market is expected to remain volatile in the near term, investors could look for buying opportunities for companies that have a positive outlook. “The local market remained under pressure despite overnight rebound at Dow Jones Industrial Average, because there is not much catalyst, so the near-term prospect is largely depending on external factors. “The inverted yield curve is still there and we expect the market to remain volatile for a while, but we see some opportunity now as the market was down from its recent high,” Wong said. He ...