KUALA LUMPUR, April 23 — Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday thanks to buying from local and foreign...
KUALA LUMPUR, April 23 — Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday thanks to buying from local and foreign institutions, said an analyst.The benchmark index which opened 0.22 of-a-point better at 1,559.81, moved between 1,559.81 and 1,567.57 throughout the trading session.On the broader market, gainers thumped decliners 642 to 402, while 507 counters were unchanged, 823 untraded and 22 others suspended.
“On the domestic front, the FBM KLCI is on its way to test the 1,570 resistance and we reckon if this level is breached and able to hold for a longer period, we believe that the benchmark index is positioned to advance further. “Today’s close of the FBM KLCI reflects a positive trend, driven by encouraging signs of easing tensions in the Middle East. The benchmark index saw an uptick of 2.05 points or 0.13 per cent, reaching 1,561.64 points by the close of trading,” he said.
Among the heavyweights, Maybank and Tenaga Nasional gained 8.0 sen to RM9.82 and RM11.72 respectively, Public Bank increased 1.0 sen to RM4.21, CIMB went up 5.0 sen to RM6.67, and Petronas Chemicals was 2.0 sen higher to RM6.83. Sector-wise, the Industrial Products and Services Index inched up 0.48 of-a-point to 185.56, the Financial Services Index surged 86.06 points to 17,355.35, the Energy Index was 2.96 points lower at 969.16, and the Plantation Index decreased 32.24 points to 7,383.95.
Malaysia Ends Higher On Buying Support From Local And Foreign Institutions
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