BURSA Malaysia pared down gains at the closing bell today with the index remaining at over its three-year high level, aligned with the global rally as expectations that the US Federal Reserve (Fed) will soon cut rates fuelled a rush into riskier market segments, said an analyst.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.58 points, or 0.47%, to 1,633.54 from Tuesday’s (July 16) close of 1,625.96.
The benchmark index opened 4.02 points higher at 1,629.98 and subsequently dipped to an intraday low of 1,629.89 before hitting an intraday high of 1,638.03 towards the midday break.
On the broader market, gainers trounced losers 770 to 445, with 513 counters unchanged, 720 untraded, and six others suspended. – July 17, 2024
