Bursa Malaysia Ends Higher, Tracking Most Regional Markets
KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia closed higher today, tracking the mostly positive performance of regional markets, supported by continued buying in selected heavyweights, a dealer said.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.62 points, or 0.55 per cent, to close at 1,584.96 from Friday's close of 1,576.34.
The benchmark index opened 1.92 points firmer at 1,578.26, and moved between 1,575.48 and 1,588.61 throughout the day.
The broader market, however, was slightly negative, with decliners leading advancers 514 to 491, while 469 counters were unchanged, 1,112 untraded and six suspended.
Turnover rose to 2.54 billion units worth RM2.72 billion from 2.01 billion units worth RM2.03 billion on Friday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI resumes its uptrend after two days of profit-taking as sentiment continues to improve.
"Key regional indices were higher, buoyed by signs of progress in US-Russia talks over a potential ceasefire in Ukraine. Meanwhile, investors are closely watching for any signals on US interest rates from the Federal Reserve's annual retreat in Jackson Hole.
'On the domestic front, we remain optimistic on the positive developments in improving geopolitical conditions. The benchmark index is currently retesting the 1,585 resistance level and closed the session at 1,584.96, just below this immediate threshold,' he told Bernama.
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