Selected buying support
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