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Monday, May 12, 2014

FBM KLCI - likely range-bound with an upward bias


Stocks on Bursa Malaysia closed higher last Friday on renewed buying interest, mostly seen in selected heavyweight stocks. The FBMKLCI ended at an intra-day high of 1,866.72 points, up 3.88 points or 0.21%, after sliding to as low as 1,859.01 points earlier. On a weekly basis, the key index fell 2.36 points from 1,869.08 recorded on previous Friday. Market breadth was positive as gainers led losers by 439 to 339, while 316 counters were unchanged. Turnover was lower at 1.59 billion shares worth RM1.8 billion from 1.81 billion shares worth RM1.97 billion recorded on Thursday. Turnover for the regular week amounted to 8.02 billion units worth RM8.276 billion, compared with 7.33 billion shares valued at RM7.967 billion during the four-day holiday-shortened previous week. Read more>>

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