Se­lected buy­ing sup­port

The Sun (Malaysia) - - SPEAK UP -

BURSA Malaysia closed firmer yes­ter­day on the back of buy­ing sup­port in se­lected heavy­weights and trade/ser­vice coun­ters such as Maxis, Gent­ing Malaysia and MISC.

The FBM KLCI ended at 1,677.76, up 7.78 points or 0.47%. Over­all, losers out­paced gain­ers 407 to 378, while 376 coun­ters were un­changed, 507 un­traded and 19 sus­pended.

Maxis rose 20 sen to RM6.20 while Gent­ing Malaysia gained 14 sen to RM4.85 and MISC jumped 11 sen to RM7.61.

Mer­cury Se­cu­ri­ties head of re­search Ed­mund Tham said the bet­ter lo­cal mar­ket sen­ti­ment was in line with re­gional peers’.

“The stronger Malaysia eq­uity mar­ket was due to the pos­i­tive Bud­get 2017 an­nounce­ment on the spe­cial RM3 bil­lion al­lo­ca­tion to fund man­agers. It was also sup­ported by the steady move­ment of the ring­git.”

He said Bursa will now re­fo­cus on ex­ter­nal devel­op­ments such as the US pres­i­den­tial elec­tion. – Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.