Higher on window-dressing, better oil prices
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