Market Close KLCI ends on record high for second consecutive day

by **Cals** Fri 16 May 2014, 02:15

Market Close KLCI ends on record high for second consecutive day

Business & Markets 2014

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com

Thursday, 15 May 2014 17:29

KUALA LUMPUR (May 15): The FBM KLCI closed at a record high for the second consecutive day, supported by last minute gains in the index.

At 5pm, the index rose 0.63 points or 0.03% to end at 1,879.83.

Throughout the day, the index had exhibited some volatility while it stayed in the red, before being lifted into positive territory on gains in index-linked stocks such as Petronas Gas Bhd and Sime Darby Bhd.

A remisier, commenting on the earlier movement of the index, said that the KLCI was slightly retracing its gains yesterday, after its record close of 1,879.20 yesterday,

“The KLCI is following the overnight fall in the US market, taking a slight breather from yesterday’s record high close,” he told theedgemalaysia.com.

Across the board, 1.63 billion shares worth RM2.34 billion were traded.

Losers outpaced gainers at 443 versus 309, while 345 counters were unchanged.

Top gainers included Nestle Bhd, Danainfra Nasional Bhd and Petronas Gas Bhd, while the top decliners were led by Cahya Mata Sarawak Bhd. PDZ Holdings Bhd was the most-actively traded counter.

Reuters reported that Asian shares recouped early losses on Thursday but held below the previous session's one-month highs, while expectations of credit easing by the European Central Bank knocked yields on U.S. and European bonds.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.1 percent but did not retest the previous session's one-month high. Shares struggled to rise after Wall Street retreated overnight from record highs marked the day before.