Sentiment turns bullish as Fed, BoJ stand pat
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