FBM KLCI - likely to further consolidate

Stocks on Bursa Malaysia extended gains for the second day on Friday with the benchmark FBMKLCI up 4.38 points, or 0.25%, to 1,732.44, as investors and bargain hunters started nibbling at value buy selectively and the local bourse rose in tandem with most regional peers, on hopes of a solid US job report data due later in the night. On a weekly basis, the key index lost 20.33 points from previous Friday’s 1,752.77. Gainers outpaced losers by 424 to 342 with 319 counters unchanged. Total volume surged to 1.7 billion shares worth RM1.8 billion from 1.6 billion shares worth RM1.8 billion on Thursday. Weekly turnover for the regular week increased to 8.03 billion units worth RM8.95 billion from 5.31 billion units worth RM5.48 billion recorded the previous holiday-shortened week. Read more >>