KUALA LUMPUR: Bursa Malaysia pared gains but still ended up for the second straight session yesterday, supported by buying of selected counters in consumer products and services, as well as the telecommunications and media sectors.
At 5PM, the FBM KLCI climbed 1.82 points to 1,578.52 from the previous day’s close of 1,576.70. The index opened 1.47 points lower at 1,575.23 and moved between 1,573.95 and 1,582.34 throughout the day.
In the broader market, gainers beat decliners 604 to 409, while 532 counters were unchanged, with 1,013 untraded and seven suspended.
Turnover declined to 2.70 billion units worth RM2.80bil from 2.90 billion units worth RM2.79bil on Tuesday.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local bourse remains in consolidation mode despite the brief gains.
“We reckon that a clear breakthrough above the 1,585 level with decent volume will pave the way toward 1,600 and beyond,” he told Bernama.
