Bursa Malaysia rallies on political clarity, KLCI up 8.02%

BURSA Malaysia rallied to a near three-month high today, with the key index rising by 4.04%, on bullish market sentiment following the clarity in the local political scene, coupled with positive external developments that fuel investors’ risk appetite.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 58.38 points to end the day at 1,501.88 compared with 1,443.50 at Wednesday’s (Nov 23) close.

The market bellwether, which opened 7.18 points higher at 1,450.68, its intraday low, thereafter moved in an upbeat momentum throughout the day and hit an intraday high of 1,502.11 in late trading.

Market breadth was bullish with advancers hammering decliners 981 to 197, while 256 counters were unchanged, 899 untraded, and 84 others suspended.

The brisk trading in the market saw turnover increasing sharply to 6.87 billion units worth RM4.19 bil versus 2.68 billion units worth RM1.63 bil on Wednesday. — Nov 24, 2022

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