Blue chips spur market rally


KUALA LUMPUR: Continuous buying by funds and gains on heavyweights helped propel the benchmark FBM KLCI index higher on Tuesday.

At closing, the FBM KLCI ended 11.20 points, or 0.72% to 1,558.80. The index hit an intraday high of 1,559.02.

In the broader market, there were 548 gainers, 570 losers while 410 counters were unchanged. Trading volume stood at 3.8 billion shares worth RM3.09bil.

Dealers said continued buying in selected heavyweights pushed the key index to finish higher today.

In terms of fund flows, foreign investors and retailers were net sellers on Monday offloading equities worth RM65mil and RM18mil respectively.

Local institutions emerged as net buyers with total purchases valued at RM83mil.

Among the gainers on Bursa Malaysia, Allianz rose 58 sen to RM19.14, PETRONAS Dagangan added 34 sen to RM23.06, United Plantations gained 22 sen to RM21.14 and LPI climbed 22 sen to RM12.58.

Heineken lost 48 sen to RM22.34, Paragon slid 47 sen to RM3.58, Amway fell 26 sen to RM6.49 and Cape EMS declined 19.5 sen to 93.5 sen.

Most markets in Asia ended the day in the black. The Hang Seng Index in Hong Kong rose 0.94%, Japan’s Nikkei 225 was up 0.015% and China’s CSI 300 gained 1.2%. South Korea’s Kospi, however, lost 0.83%.

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FBM KLCI , KLCI , Bursa Malaysia

   

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