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Bursa Malaysia ends higher lifted by plantation, construction stocks

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Bursa Malaysia,Closing,Bargain Hunting

Malaysia has sent a complaint letter to Vietnam over its alleged expansion of a South China Sea reef that both countries claim as their own, two officials told Reuters, in a rare bilateral escalation not involving China.

KUALA LUMPUR: Bursa Malaysia closed at its intraday high on Monday, driven by bargain hunting in heavyweights with a focus on plantation and construction stocks.

Market breadth was positive, with advancers trouncing decliners 537 to 485, while 502 counters were unchanged, 877 untraded, and 30 suspended. "On the domestic front, the outlook remains cautiously optimistic. Investors are encouraged to stay alert due to rising market volatility and uncertainties coming from global developments such as geopolitical tensions and the US presidential election.

"Major developments, including the US presidential election, the upcoming Federal Open Market Committee meeting, and Bank Negara Malaysia’s Monetary Policy Committee meeting, are expected to inject short-term volatility into the market. On the index board, the FBM Emas Index climbed 77.46 points to 12,205.80, the FBMT 100 Index rose 77.40 points to 11,917.19, the FBM Emas Shariah Index surged 92.84 points to 12,195.28, the FBM 70 Index gained 61.97 points to 17,740.90, and the FBM ACE Index garnered 62.46 points to 5,058.81.

 

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