KUALA LUMPUR: Bursa Malaysia ended higher today, in line with regional markets amid improving market sentiment globally and ahead of the US Federal Reserve’s decision on its interest rate later today.
Market breadth was positive with gainers leading decliners 497 to 377, while 408 counters were unchanged, 991 untraded and seven others suspended. “However, we believe bargain hunting activities may continue given the reasonable valuations of shares on Bursa Malaysia due to the oversold position. Thus, we see the FBM KLCI hovering within the 1,410-1,420 range for the remainder of the week,” he added.
Among the actives, Green Packet and Hong Seng Consolidated were flat at 4.5 sen and 13.5 sen respectively, Top Glove eased 1 sen to 95 sen, Computer Forms dipped 18 sen to 43.5 sen, and MyEG went down 2.5 sen to 70.5 sen. Sector-wise, the financial services index soared 112.92 points to 15,647.0, the energy index rose 10.86 points to 806.09, the plantation index decreased by 3.14 points to 6,749.18 and the industrial products and services index shed 0.30 of-a-point to 166.71.