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KUALA LUMPUR: The FBM KLCI entered the lunch break slightly higher than last Friday's close as investors shrugged off Fitch Ratings' downgrade of Malaysia's credit rating and gained confidence in growing commodity prices.
KUALA LUMPUR: The FBM KLCI held on to its early lead as it entered the lunch break following a growth-inspired commodities rally.
KUALA LUMPUR: The FBM KLCI rose by 1.45 points as the benchmark index swung back from losses on the last trading day of October with Asian markets broadly in the red in reaction to the recent disagreement between the members of the Organisation of the Petroleum Exporting Countries (OPEC).
KUALA LUMPUR: The FBM KLCI rose by 1.96 points to outperform regional markets as the ringgit rebounded following the surge in crude oil prices over the past two days.
KUALA LUMPUR: Fund nibbling of Malayan Banking Bhd, Petronas Chemicals Bhd and Sime Darby Bhd underpinned the FBM KLCI's advance at midday on Thursday as key Asian markets rallied, led by energy stocks.
KUALA LUMPUR: Bursa Malaysia FBM KLCI index has high potential to recover this year backed by strong gross domestic product outlook and better corporate earnings.
KUALA LUMPUR: Bursa Malaysia is likely to hover at the 1,420 to 1,450 level next week, supported by expected rotational play among the rubber glove and logistics counters.
Review: While trading volume remained high and the FBM KLCI edged higher, breadth in the broader market was largely negative during the course of the week with more losing counters than gainers. Institutional investors continued paring down their holdings while foreign investors mopped up.