Higher on bargain-hunting

BURSA Malaysia extended earlier gains to close higher with the key index moving in the positive territory throughout the day on the back of persistent buying support for blue-chips, led by TNB, dealers said.

The benchmark FBM KLCI finished at 1,720.38, up 5.96 points from Tuesday's close of 1,714.42.

“The upswing is starting as the market has fallen enough for them (foreign investors) to find value again, buying different stocks than what they had sold.

“Everything is about valuation,” InterPacific Securities Sdn Bhd head of research Pong Teng Siew told Bernama, adding that the upswing would likely stay until next year. — Bernama

785129(5