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Friday, March 1, 2013

FBM KLCI - breaking out of consolidation

Stocks on Bursa Malaysia closed higher yesterday, aided by strong buying interest in line with gains in most regional markets. Stocks were supported by the European Central Bank’s announcement that it would not tighten monetary policy any time soon as it was concerned over investors in the Euro zone. The announcement came after US Federal Reserve chairman Ben Bernanke said the central bank’s own huge monetary easing would stay in place. The FBM KLCI rose 13.49 points or 0.83% to close at 1,637.63 after hovering between 1,624.79 and 1,637.63 throughout the day, amid market’s cautiousness about the general election. Advancers led decliners by 394 to 283, with 300 counters unchanged. Total volume rose to 1.01 billion shares worth RM1.98 billion from 895.99 million shares worth RM1.55 billion yesterday. ...Read more>>

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