Higher on win­dow-dress­ing, bet­ter oil prices

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia closed higher yes­ter­day on stronger buy­ing sup­port due to some win­dow-dress­ing ac­tiv­i­ties, as well as, bet­ter oil prices.

The bench­mark FBM KLCI ended at 1,630.56 points, 13.92 points higher from yes­ter­day’s close of 1,616.64.

Af­ter open­ing 0.72 of-a-point bet­ter at 1,617.36 yes­ter­day, the FBM KLCI moved be­tween 1,617.33 and 1,635.04 through­out the morn­ing ses­sion.

Gain­ers out­paced losers 531 to 258 with 363 coun­ters un­changed, 540 un­traded and 16 oth­ers sus­pended.

In a note, Hong Leong In­vest­ment Bank Re­search said while in­vest­ment sen­ti­ment re­mained soft, Bursa Malaysia would grad­u­ally re­cover to­wards year-end, buoyed by win­dow-dress­ing and ex­pec­ta­tions of the coun­try’s gen­eral elec­tions be­ing held by mid-2017.

Mean­while, a dealer said higher global oil prices also lifted buy­ing sen­ti­ment.

Mean­while, Bursa Malaysia yes­ter­day is­sued an un­usual mar­ket ac­tiv­ity query to Sino­top Hold­ings Bhd, which was among the most ac­tive stocks to­day, due to a sharp rise in the com­pany’s share price. – Ber­nama

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