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Wednesday, January 14, 2015

FBM KLCI - rebounded strongly to close higher

Stocks on Bursa Malaysia closed higher yesterday as gains in selected finance counters, led by CIMB, lifted the local bourse to end higher for the fourth consecutive day. Market talk that CIMB and RHB Capital are looking to scrap their proposed mega bank merger with Malaysian Building Society Bhd (MBSB) has triggered massive buying interest in the banking stocks. CIMB emerged the top gainer, rising 74 sen or 14.29 per cent to RM5.92. At close, the benchmark FBMKLCI stood at 1,748.9, up 13.82 points, or 0.8%, after hovering between 1,725.98 and 1,750.16 throughout the day. Gainers outpaced losers by 502 to 311 with 275 counters unchanged. Total volume surged to 1.90 billion shares worth RM2.11 billion from 1.36 billion shares worth RM1.46 billion on Monday. Read more >>

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