KUALA LUMPUR: The FBM KLCI closed at an all-time high of 1,653.90 on Monday, giving a firm start for September, boosted by local fund buying of telco stocks including Axiata.
The KLCI rose 7.79 points to 1,653.90, the highest since Aug 15 when the KLCI ended the day at 1,653.78. Turnover was 1.49 billion shares valued at RM1.68bil. However, the overall market saw profit taking, with declining stocks beating advancers 423 to 360 while 315 counters unchanged. Reuters reported European shares crept higher after weak factory data highlighted the poor health of the world economy, keeping alive talk of fresh stimulus from major central banks. However, with U.S. investors out for the Labor Day holiday, markets were likely to trade in a limited range.
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