FBM KLCI - likely to trend higher

Stocks on Bursa Malaysia closed mixed to higher last Friday on the back of persistent buying momentum in small capitalised and penny stocks amid positive sentiment brought about by strong local economic data. Malaysia’s Gross Domestic Product (GDP) grew 6.4% in the second quarter against 6.2% registered in the first quarter of the year, driven by higher exports and continued strength in private domestic demand. The FBMKLCI ended 2.73 points or 0.15% firmer at 1,864.31 after fluctuating between 1,860.22 and 1,864.62 points throughout the day. On a weekly basis, the FBMKLCI rose 24.44 points from 1,839.87 points recorded on previous Friday. Losers led gainers by 439 to 407 while 336 counters were unchanged. Total volume decreased to 3.41 billion units worth RM2.34 billion from 3.95 billion units worth RM2.58 billion transacted on Thursday. Weekly turnover rose to 17.14 billion shares, valued at RM11.93 billion from 15.28 billion shares, valued at RM11.39 billion last week. Read more>>