FBM KLCI closed firmer Wednesday, near the year-high

Share prices on the Malaysia stock exchange closed higher Wednesday following the sharp gains on Wall St. overnight.

The benchmark index FBM KLCI settled slightly lower than the year-high of 1,219.07 points registered on 23 September.
The benchmark FBM KLCI added 5.88 points or 0.48% to 1,218.61 points, slightly below the day’s highest range of 1,219.27 points. The KLCI opened 1.68 points higher at 1,214.41 points and moved to a low of 1,214.40 points during the day. Trading band was only 4.87 points.

Throughout the trading day, the FBM KLCI moved between 1,214.40 and 1,219.41, moving toward the year’s highest closing level of 1,221.20 recorded on September 18.

Dealers said local and regional sentiment somewhat improved amid Wall Street’s gain, overnight, on rising optimism of an impending economic recovery coupled with strong expectation of better corporate earnings.

Market breadth was positive with gainers outnumbering losers 479 to 178. Volume rose to 879 million shares valued at RM1,313 from 643 million worth RM1,194 million Tuesday. Of the 30 components of KLCI, 18 closed in the positive territory, eight ended lower while the remaining four settled unchanged. Volume for the component stock was 116 million shares worth RM654 million.