Sen­ti­ment turns bullish as Fed, BoJ stand pat

The Sun (Malaysia) - - SPEAK UP -

BURSA Malaysia closed higher yes­ter­day af­ter the Bank of Ja­pan (BoJ) and the US Fed­eral Re­serve de­cided to keep in­ter­est rates un­changed and this helped ease in­vestor anx­i­eties.

The FBM KLCI re­mained in pos­i­tive ter­ri­tory the whole day and ended at 1,669.66, up 10.93 points. It opened 2.5 points bet­ter at 1,661.23 and moved be­tween 1,661.21 and 1,670.34 dur­ing the day.

On the Bursa score­board, gain­ers led losers by 529 to 313 while 361 coun­ters were un­changed, 487 un­traded and 18 oth­ers were sus­pended.

A dealer said the cur­rent bullish mo­men­tum would likely con­tinue in the near term con­sid­er­ing that un­cer­tain­ties from the key cen­tral banks’ mon­e­tary poli­cies had been re­moved.

“Fur­ther­more, higher oil prices lifted mar­ket sen­ti­ment. As at 3pm Malaysian time, in­ter­na­tional bench­mark Brent crude fu­tures were 0.8% higher at US$47.22 per bar­rel from their last close,” he added.

Of the heavy­weights, May­bank gained 4 sen to RM7.80 and Pub­lic Bank rose 8 sen to RM19.58. IHH Health­care lost 12 sen to RM6.37. TNB was flat at RM14.40. – Ber­nama

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