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Market Close FBM KLCI ends 0.67% higher
by Cals Mon 04 Aug 2014, 23:03
| Market Close FBM KLCI ends 0.67% higher |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Monday, 04 August 2014 17:35 KUALA LUMPUR (Aug 04): The FBM KLCI rose 0.67%, boosted by heavyweights such as Petronas Dagangan Bhd and British American Tobacco Malaysia Bhd (BAT). At 5pm market close, the benchmark index rose 12.46 points to 1875.80. Danny Wong, CEO of Areca Capital, told theedgemalaysia.com that the KLCI rose, boosted by action from local heavy weights today. He added that global news of Argentinean defaults that is ongoing, might see funds flowing back to Malaysia again as a safe haven. “The local results season is coming out soon and investors may stand to benefit from ETP related projects, such as the semi-conductor and oil and gas industry,” said Wong. Some three billion shares worth RM2.24 billion were traded across Bursa Malaysia. Sentiment was positive for the entire day, with the index reporting steady gains towards a close 1875. Gainers outpaced decliners 555 to 329, while 301 counters remained unchanged. Petronas Dagangan and BAT led the gainers, while Petronas Gas was the top decliner today. Sumatec Resources Bhd was the most active stock. Regionally, the Japanese Nikkei reported a fall of 0.34%, while the Kospi rose 0.35%. Reuters reported that steep weekly falls on Wall Street pressured Asian shares on Monday, and Argentina's debt default eclipsed US economic data that argued against an earlier start to the US Federal Reserve's rate-tightening cycle. |
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