Bargain-hunting Activities Push Bursa Malaysia Higher At The Close
By Durratul Ain Ahmad Fuad and Danni Haizal Danial Donald
KUALA LUMPUR, July 17 (Bernama) -- Bursa Malaysia ended two days of losses to close higher on Thursday, tracking gains in the regional markets as bargain-hunting activities emerged following the recent sell-off.
At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 9.44 points or 0.63 per cent to 1,520.94 from Wednesday's close of 1,511.50.
The benchmark index opened 0.39 of a point higher at 1,511.89 and subsequently moved between 1,511.64 and 1,521.15 throughout the session.
The market breadth was positive, with 547 gainers outpacing 416 decliners and 475 counters unchanged, while 1,019 were untraded and eight suspended.
Turnover eased to 3.17 billion shares worth RM2.48 billion, compared with 3.18 billion shares worth RM2.44 billion on Wednesday.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said regional bourses recorded gains, suggesting a broader return of risk appetite.
The local market was in sync with most of its regional peers -- Singapore's Straits Times Index rose 0.66 per cent to 4,159.57, South Korea's Kospi advanced 0.37 per cent to 3,192.29 and Japan's Nikkei 225 gained by 0.6 per cent to 39,901.19. However, Hong Kong's Hang Seng Index inched down 0.08 per cent to 24,498.95.
'Looking ahead, attention will turn to key United States (US) economic data releases later today, with June retail sales figures and last week's jobless claims scheduled for release.
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