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Wednesday, March 20, 2013

FBM KLCI - higher on technical rebound

Stocks on Bursa Malaysia rebounded from recent losses to close higher yesterday on renewed buying interest with gains mostly seen in finance and selected blue-chips. Monday's sell-off came as investors fretted over the European Union’s proposed terms for a US$13 billion bailout for the island nation of Cyprus. However, most of the global bourses recovered some of the losses yesterday after the Cypriot authorities delayed a parliamentary vote on the plan and ordered the country’s banks to remain closed until Thursday. The FBM KLCI ended 4.1 points or 0.25% better at 1,625.46 after hovering between 1,619.71 and 1,628.26. Gainers thumped losers by 380 to 265, while 302 counters were unchanged. Total volume slipped to 762.687 million shares valued at RM1.445 billion from Monday’s 776.94 million shares worth RM1.489 billion. ...Read more>>

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