Blue chip stocks bounce to boost Bursa

PublicInvest also said it was lowering its FBM KLCI year-end target to 1,590 points from 1,690 points previously due to “higher risk premiums”.

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) clawed back some losses from Monday’s knee-jerk fall on the prosperity tax with banking heavyweights making up lost ground yesterday.

At yesterday’s close, the FBM KLCI rose 6.71 points to 1,537.63 from 1,530.92 on Monday, sparked by banking stocks in the morning trading session.