Bursa closes higher, surpassing 1,600 points level

June 20, 2012

KUALA LUMPUR, June 20 – Share prices on Bursa Malaysia closed higher for the third consecutive day today, surpassing the 1,600 points level, bolstered by gains in selected consumer and bluechip stocks, dealers said.

Tracking the positive movement of its regional peers, the FTSE Bursa Malaysia KLCI (FBM KLCI) closed today’s trading 9.41 points higher at 1,604.39.

The barometer index, which opened at 1,595.94, fluctuated between 1,594.88 and 1,604.39 throughout the day.

HLIB Research said that despite the lingering external woes, the KLCI is well placed to test the 1,600 barrier and subsequently the historical high of 1,609 points in the near term.

This is due to active local funds buying of index-linked blue chips and the impending listing of Felda, coupled with a strong triangle breakout yesterday.

Among top gainers today were Pharmaniaga Bhd, Nestle (M) Bhd, Aeon Credit Service, Petronas Dagangan Bhd and Dutch Lady Milk Industries Bhd.

On the local front, the Finance Index jumped 47.37 points to 14,278.93, the Plantation Index was 13.86 points higher at 8,484.41 and the Industrial Index appreciated 4.53 points to 2,792.49.

The FBM Emas Index rose 70.27 points to 10,972.69, the FBM Mid 70 Index advanced 86.52 points to 12,034.13 and the FBM ACE Index edged up 94.19 points to 4,329.98.

Gainers thumped losers 621 to 196 while 291 counters were unchanged, 462 untraded and 13 others suspended.

Turnover was higher at 1.401 billion shares worth RM1.763 billion from the 932.560 million units valued at RM1.459 billion posted yesterday. – Bernama