Malaysia's Stock Market Bounces Back As Geopolitical Concern Eases

KUALA LUMPUR, Aug 30 (Bernama) -- The Malaysian stock market (Bursa Malaysia) bounced back to end higher on Wednesday with the index hitting its intra-day high, or up 0.68 per cent, after buying support emerged in late trading following a volatile session throughout the day. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 12.02 points better at 1,773.16 after moving between 1,757.89 and 1,773.16 throughout the day. The index opened 2.55 points lower at 1,758.57 from yesterday’s close of 1,761.14. Market breadth was positive as advancers led decliners by 480 to 375, with 350 counters unchanged, 634 untraded and 46 others suspended. Volume rose to 1.83 billion units valued at RM2.21 billion from 1.45 billion units valued worth RM1.83 billion on Tuesday. Affin Hwang Investment Bank Vice President/Head of Retail Research, Dr Nazri Khan Adam Khan, said the market was calm as geopolitical concerns eased. Index-linked gainers, led by CIMB, gained 38 sen to RM7.08, MISC added 19 sen to RM7.44 and Axiata advanced eight sen to RM4.93. Maybank was flat at RM9.46. Tenaga fell two sen to RM14.28. Of the actives, Huaan improved 11.5 sen to 15.5 sen, CSL was half-a-sen better at four sen, Compugt lost half-a-sen to 2.5 sen and MLAb eased 1.5 sen to 18.5 sen. -- BERNAMA