KUALA LUMPUR: Bursa Malaysia ended higher yesterday, extending its winning streak to seven days, with the barometer index increasing by 23.7 points over the period.
SPI Asset Management managing director Stephen Innes said the Bank of Japan held its monetary policy steady, giving Asian bourses including Bursa Malaysia a slight boost late afternoon.
He said this is despite the fact that local markets are grappling with a weak Chinese economy and a pushback from US Federal Reserve officials trying to temper the US rate cut enthusiasm in the market.
“Both negatively affect local sentiment. The time of year is also a factor as investors are paring risk-taking.
“The focus is now turning to various holidays and New Year festivities,” he told Bernama.
At 5pm yesterday, the FBM KLCI edged up 0.39 of a point to 1,465.67 versus the previous day’s close of 1,465.28.
The FBM KLCI opened 1.28 points higher at 1,466.56 and moved between 1,464.55 and 1,467.61 throughout the day.
In the broader market, gainers beat losers 474 to 431, while 478 counters were unchanged, 933 untraded, and 12 others suspended.
Turnover fell to 3.72 billion units worth RM2.42bil from 4.81 billion units worth RM3.02bil on Monday.
Among the heavyweights, Malayan Banking Bhd eased two sen to RM8.98, Public Bank Bhd slid one sen to RM4.34, Petronas Chemicals Group Bhd was 10 sen lower to RM7.09, but CIMB Group Holdings Bhd rose two sen to RM5.96 and Tenaga Nasional Bhd gained one sen to RM10.
Of the actives, Leform Bhd and Widad Group Bhd inched up half-a-sen each to 39 sen and 47 sen, Iskandar Waterfront City Bhd gained 5.5 sen to 67 sen, Top Glove Corp Bhd slipped two sen to 94 sen, while Careplus Group Bhd was flat at 46.5 sen.
Source: The Star