Higher on bar­gain-hunt­ing

The Star Malaysia - StarBiz - - Stocks -

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


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