KUALA LUMPUR, July 5 — The FTSE Bursa Malaysia KLCI ended marginally higher today, lifted by bargain hunting activities among undervalued stocks, said an analyst.
The overall market breadth was negative with losers outnumbering gainers 423 to 373, while 438 counters were unchanged, 995 untraded and 14 others suspended. “Nevertheless, we believe the market remains oversold, hence providing opportunities for investors to accumulate stocks at attractive levels, given their cheaper valuations.
Of the actives, ACE-market debutant Orgabio advanced three sen to 34 sen, Nexgram and Reach Energy were flat at one sen and five sen, respectively, Top Glove shed three sen to 94.5 sen and NWP Holdings edged down half-a-sen to 27 sen. The Main Market volume increased to 1.07 billion shares worth RM984.74 million against yesterday’s 1.04 billion shares worth RM907.02 million.