FBM KLCI edges up
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