Bursa Malaysia snaps 6-days losing streak, cheap stocks drive bargain-hunting

BURSA Malaysia’s main index ended in positive territory today after being in the red for six consecutive days, thanks to a boost from bargain-hunting activities.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 5.29 points to 1,456.73, bolstered mainly by IHH Healthcare, Axiata and Tenaga Nasional.

The index opened 1.14 points higher at 1,451.34 compared with Wednesday’s closing of 1,450.20.

However, market breadth remained negative with decliners outpacing advancers 506 to 365, while 415 counters were unchanged, 927 untraded and 23 others suspended. — March 2, 2023

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