Blue-chip buying lifts KL market

Late buying of select blue chips by fund managers seeking to rebalance their portfolios ahead of the mid-year book closing helped lift the stock market by more than five points yesterday. 

Analysts said counters such as Telekom Malaysia Bhd, Commerce Asset-Holding Bhd (CAHB), and Sime Darby Bhd were heavily traded as fund managers picked them up to “dress up” their portfolios. As a result, the Kuala Lumpur Composite Index closed 5.51 points higher at 823.91.