BURSA Malaysia settled marginally higher yesterday in line with most regional markets as sentiment was buoyed by encouraging Chinese economic data and extended gains in global oil prices, dealers said. The FBM KLCI inched up 0.70 point to 1,668.27. Market breadth turned negative as losers outpaced gainers 403 to 373, while 412 counters were unchanged, 471 untraded and 21 suspended.
The local market was swinging between gains and losses, due to lack of market driving factors, before settling marginally higher.
Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said: “Although the local market is seen trading higher, swift high volume counter-move is needed to negate the bearish-bias outlook which could offer a slight opportunity to climb up further,” he said. – Bernama