KLCI rebounds on window dressing but still down 3% since Jan (Update)

KUALA LUMPUR: Local fund buying of banks and Petronas Chemicals gave the embattled FBM KLCI a much-needed lift and enabled it to close nearly 15 points higher at the end of the second quarter on Tuesday.

At 5pm, the KLCI was up 14.72 points or 0.87% to 1,706.64 but year-to-date, it is down 3.1% and the second worst performer after Jakarta’s Composite Index which fell 6.05% since January.

Turnover on Bursa Malaysia increased to 1.74 billion shares valued at RM2.25bil. There were 495 gainers to 309 losers and also 309 counters unchanged, reflecting the firmer market sentiment.

Local funds were net buyers on Bursa at RM113.46mil but local retail funds were net sellers at RM40.24mil and foreign funds net sellers at RM73.04mil.