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Friday, November 30, 2012

FBM KLCI - marginally higher on continued rebound

Stocks on Bursa Malaysia closed slightly higher yesterday, as prices continued to recover after the recent oversold conditions. The market's performance was in tandem with the regional trend, boosted by positive news that the US political leaders were closing in on a budget deal to avoid a so-called "fiscal cliff". Buying interest in banking, telecommunication and oil and gas counters continued to lift the local market amid bullish external sentiments. The FBM KLCI was up 0.8 point or 0.05% to 1,607.32, after opening two points higher at 1,608.52 and moved between 1,607.9 and 1,612.73. Losers led gainers by 354 to 327, while 334 counters were unchanged. Volume fell to 885.74 million shares worth RM1.53 billion from Wednesday's 1.2 billion shares worth RM1.93 billion. ...Read more>>

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