Bursa Rises Firmer On Bargain Hunting

Bursa Malaysia ended firmer today as bargain-hunting activities emerged following Tuesday’s profit-taking.

The local bourse bucked the regional trend which was mostly lower as investors digested the United States (US) Federal Reserve’s decision to maintain its key interest rate on Wednesday, said an analyst.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.33 points or 0.28% to 1,580.30 from Tuesday’s close of 1,575.97.

The benchmark index opened one point easier at 1,574.97 and moved between 1,574.27 and 1,582.68 throughout the day.

On the broader market, decliners outpaced gainers 620 to 530, while 464 counters were unchanged, 676 untraded and 18 others suspended.

Turnover declined to 3.81 billion units worth RM3.06 bil from 4.18 billion units worth RM3.75 bil on Tuesday.

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