Sources: The Star Online
KUALA LUMPUR: The FTSE Bursa Malaysia Kuala Lumpur Composite Index (KLCI) reached an intra-day high of 1104.87 points buoyed by buying interest in banking and blue chips stocks.
Analysts said the benchmark index continued to thread higher as both market sentiments and economic outlook stay bearish.
“The rising stock prices across Asia lifted sentiment on the local bourse,” an analyst said. He added that positive news flow from overseas provided fresh impetus for the market.
At 5pm, the benchmark index closed 17.61 points higher to 1097.24.
On Bursa Malaysia, gainers outnumbered losers, with 574 stocks going down, 120 gainers and 151 counters remained unchanged. Some 1.36 billion shares valued at RM1.78bil exchanged hands on the local bourse.
Malayan Banking Bhd, which topped the gainers’ list, jumped 25 sen to RM5.90. Bursa Malaysia Bhd and Public Bank Bhd rose 25 sen each to RM7.25 and RM9.95 respectively.
Among other counters, PPB Oil Palms Bhd and Bumiputra-Commerce Holdings Bhd put on 20 sen RM12 and RM9.70 respectively.
Regional markets also gave a favourable performance. The Hang Seng Index was up 2.09% at18,258.66, the Straits Times Index rose 71.56 points to 2,382.11 points, the Nikkei 225 increased 7.44 points to 9,26925 points and the Jakarta Composite Index advanced 66.70 points to 2,123.28 points.
Meanwhile, crude oil advanced 82 cents to US$60.34 while crude palm oil futures rose RM71 to RM2,107
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