Of the 30 components of KLCI, 19 closed in the positive territory, six ended lower while the remaining five were unchanged. Volume for the component stock was 116 million shares worth RM700 million.
TECHNICAL REBOUND AFTER 4 STRAIGHT LOSING SESSIONS
TECHNICAL REBOUND AFTER 4 STRAIGHT LOSING SESSIONSShare prices on Bursa Malaysia closed higher Wednesday on lower volume. The benchmark index escaped from its four-day losing streak as the growth in manufacturing turnover in December eased market concerns.
The benchmark FBM KLCI jumped 12.31 points or 1.00% to 1,246.17 points. It opened 6.26 points higher at the day’s lowest level of 1,240.12 points and moved to a high of 1,247.91 points. Trading band was 7.79 points.
Market breadth was positive with gainers leading losers 390 to 254. Volume however shrank to 615 million shares valued at RM1,160 million from 773 million shares worth RM1,516 million Tuesday.
Leading Movers were MAYBANK (+12 sen to RM6.84), CIMB (+14 sen to RM 12.36), IOI (+10 sen to RM5.20), TNB (+14 sen to RM7.99) and AXIATA (+6 sen to RM3.34). Lagging Movers were MAXIS (-2 sen to RM5.37), GENTING (-1 sen to RM6.62), YTL POWER (-1 sen to RM2.14), PPB (-2 sen to RM15.66) and NESTLE (-10 sen to RM33.80).
Actively traded stocks include KNM, AXIATA, IRCB, SANICHI, MULPHA, AEM, REDTONE-LR, GPACKET-WA, GENTING MALAYSIA and XDL. Maybank Investment Bank Head of Retail Research Lee Cheng Hooi said the market would be selling on every emerging rebound rally.
The Finance Index rose 1.20% to 10869.67 points, the Properties Index gained 0.04% to 764.91 points and the Plantation Index increased 0.91% to 6173.13 points.The FBM Emas Index advanced 74.29 points to 8,377.61, the FBM70 Index was 75.47 points higher at 8,206.2 and the FBM Ace Index increased 38.33 points to 4,320.28.
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