Bursa Malaysia Ends Losing Streak with Strong Rebound

Bursa Malaysia reversed seven consecutive days of losses today, closing higher as bargain-hunting activities picked up following recent sell-offs, according to an analyst.

By 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) had climbed 0.35%, or 5.57 points, to 1,590.95 compared to Tuesday’s closing of 1,585.38 on June 25.

Starting at 1,586.39, the benchmark index rose throughout the day, fluctuating between 1,581.76 and 1,593.42.

In the broader market, gainers outnumbered decliners with 674 advancing against 433, while 465 counters remained unchanged. A total of 873 stocks did not trade, and 45 others were suspended.

Turnover saw a decline to 4.73 billion units valued at RM3.22 billion from the previous day’s 5.23 billion units worth RM3.70 billion.

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