FBM KLCI edges up

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia’s main in­dex ended in pos­i­tive ter­ri­tory yes­ter­day in line with most Asian stock mar­kets, deal­ers said.

The FBM KLCI closed at 1,664.96, up 0.24 point. The mar­ket barom­e­ter moved be­tween 1,663.88 and 1,671.07 dur­ing the day.

On the broader mar­ket, how­ever, losers edged win­ners 397 to 370 while 425 coun­ters were un­changed, 516 un­traded and 79 others sus­pended.

Win­dow-dress­ing ac­tiv­i­ties to­wards the end of third quar­ter would buoy eq­uity mar­kets, a dealer said, adding that sen­ti­ment im­proved yes­ter­day morn­ing af­ter the con­clu­sion of the first US pres­i­den­tial de­bate, where Hil­lary Clin­ton was seen to have won against her ri­val, Don­ald Trump.

An­other dealer said the lo­cal bourse picked up ear­lier in the day fol­low­ing nib­bling by for­eign funds.

On an­other de­vel­op­ment, he said al­though Malaysia’s rank­ing in global com­pet­i­tive­ness fell seven rungs to 25th out of 138 economies, it re­mained the most com­pet­i­tive econ­omy among de­vel­op­ing coun­tries in Asia.

“It is im­por­tant to note that the de­cline in the rank­ing was due to un­favourable de­vel­op­ments in the ed­u­ca­tion pil­lar in­stead of busi­ness pil­lar...so over­all, Malaysia is still a strate­gic busi­ness location,” he said.

Of the heavy­weights, Te­naga Na­sional rose 2 sen to RM14.42, Pub­lic Bank was flat at RM19.94, while May­bank and Petronas Chem­i­cals dropped 7 sen and 10 sen to RM7.52 and RM6.60. – Ber­nama

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