Bursa Malaysia closes higher on bargain hunting
Bursa Malaysia’s main index climbed to its highest point of the session on Thursday after investors bought key stocks at lower prices. The FTSE Bursa Malaysia KLCI added 5.31 points to close at 1,608.0 after opening 1.43 points down at 1,601.26. Decliners still outnumbered gainers 589 to 470 as turnover rose to 3.44 billion units valued at 2.66 billion ringgit.
Berjaya Research head Kenneth Leong said traders would likely remain cautious ahead of Friday’s US inflation data that could signal Federal Reserve policy moves. Rakuten Trade’s Thong Pak Leng noted renewed trade friction between Washington and Beijing limited gains and predicted the index would move between 1,600 and 1,615 toward the weekend. The financial services index jumped 77.02 points to 18,145.26, while CIMB gained 13 sen to 7.33 ringgit, and Press Metal rose seven sen to 6.20 ringgit.
