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Wednesday, February 4, 2015

FBM KLCI - likely range-bound with an upward bias


Stocks on Bursa Malaysia closed mixed last Friday following a severe bout of persistent selling pressure in the final hours and cloaked by weak market sentiment. The market gave up early gains on profit-taking seen in the consumer, plantation and properties segment. The benchmark FBM KLCI fell 0.92 point or 0.05% to close at 1,781.26, ahead of the long weekend which saw Bursa Malaysia closed on Monday and Tuesday for the Federal Territory Day and Thaipusam holiday, after opening 6.18 points higher at 1,788.36 and hovered between 1,781.26 and 1,789.39 throughout the day. Week-on week, the FBM KLCI declined 21.82 points or 1.21% from 1803.08 on previous Friday. Nonetheless, market breadth was positive with gainers outpacing decliners by 440 to 344, while 330 counters were unchanged. Total turnover increased to 1.91 billion shares valued at RM2.2 billion from 1.89 billion shares worth RM2.2 billion on Thursday. Weekly turnover decreased to 9.74 billion units valued at RM11.07 billion from 11.32 billion units worth RM12.38 billion on previous week. Read more >>

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