Bursa up despite softer Asian markets
KUALA LUMPUR, July 18 – Share prices closed higher for the third consecutive day today at Bursa Malaysia, despite cautious trading in the Asian markets, dealers said.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 5.85 points higher at 1,645 after trading between 1,640.39 and 1,645.39 throughout the day.
A dealer said the Asian stock markets were broadly lower during late trade today after US Federal Reserve Chairman gave a bleak assessment of the US economy and failed to signal a fresh round of stimulus to boost growth.
“Ongoing concerns over the health of the global economy further weighed on appetite for riskier assets,” he said.
On the local front, the Finance Index improved 75.07 points to 14,698.57, the Industrial Index increased 17.01 points to 2,882.09 while the Plantation Index declined 5.94 points to 8,815.62.
The FBM Emas Index rose 31.86 points to 11,248.96, the FBMT100 increased 33.05 points to 11,067.56 but the FBM Ace Index was 19.92 points lower at 4,338.67.
Advancers led decliners 362 to 358 while 388 counters closed unchanged, 471 were untraded and 10 others suspended.
Total volume slipped to 1.13 billion shares, valued at RM1.46 billion, from yesterday’s 1.347 billion shares valued at RM2.013 billion. – Bernama