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Thursday, July 25, 2013

FBM KLCI - new record high for 2nd consecutive day

Stocks on Bursa Malaysia closed generally higher yesterday with the FBM KLCI continued its upward momentum to close at an all-time-high, for the second consecutive day, at 1,810.00, up 4.69 points or 0.26% after opening 1.08 points lower at 1,804.23. The benchmark index, spurred by foreign institutional buying, moved between 1,804.23 and 1,810.71 throughout the day. The firmer trend was due to inflow of foreign funds on growing investor optimism after Japanese Prime Minister Shinzo Abe's ruling coalition managed to security a majority in both houses of parliament. The victory spurred positive sentiment regionally with the markets expected to see prolonged stimulus programmes which will boost Japan's economy in the near term. Gainers outnumbered losers by 392 to 356, with 347 counters unchanged. Turnover rose to 1.541 billion shares worth RM1.941 billion from 1.424 billion shares worth RM2.252 billion on Tuesday. ...Read more>>

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