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Monday, April 8, 2013

FBM KLCI - likely to consolidate


Stocks on Bursa Malaysia closed slightly higher last Friday on late bargain hunting after mild profit-taking in the morning session. Foreign funds buying has helped boost the local market as over the last five days, foreign investors have pumped in about RM2.5 billion into the market. The FBM KLCI, which touched an intra-day high of 1,700.55 on Thursday, rose by 0.19 point to close at 1,688.65 after moving between 1,680.17 and 1,688.96 throughout the day. On a weekly basis, the benchmark index rose 17.02 points from previous Friday's 1,671.63. Gainers led losers by 480 to 252 with 291 counters unchanged. Daily turnover declined to 974.348 million shares worth RM1.973 from 996.007 million shares worth RM1.751 billion on Thursday, while weekly turnover increased to 4.917 billion shares worth RM9.769 billion from previous week's 4.048 billion shares worth RM8.904 billion. ...Read more>>

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