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Friday, July 12, 2013

FBM KLCI - breaking out of range-bound consolidation

Stocks on Bursa Malaysia ended higher yesterday on sustained buying in selected heavyweights ahead of Bank Negara Malaysia's Monetary Policy Committee meeting later of the day. The local market also moved in line with regional markets after US Federal Reserve chairman Ben Bernanke promised to continue to stimulate the US economy. The FBM KLCI rose 12.44 points or 0.7% to close at 1,781.15, after opening 7.84 points better at 1,776.55. The benchmark index hovered between 1,776.55 and 1,781.86 throughout the day. Market breadth was positive, with 460 gainers and 313 losers, while 302 counters were unchanged. Turnover decreased to 1.21 billion shares worth RM1.90 billion from 1.22 billion shares valued at RM1.70 billion on Wednesday. ...Read more>>

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