KL shares extend winning streak on US rate cut optimism on Thursday

SHARES on Bursa Malaysia were mostly higher on Thursday, with the barometer index extending its winning streak to the third straight session as optimism about US interest rate cuts fuelled bullish domestic and global risk sentiments.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.74 points, or 0.29%, to 1,623.12 from Wednesday’s (July 10) close of 1,618.38.

The index opened 2.78 points higher at 1,621.16 and moved between 1,621.10 and 1,628.35 throughout the morning session.

Gainers led decliners by 761 to 478, with 471 counters unchanged, 721 untraded and seven suspended.

Turnover expanded to 5.39 billion units worth RM4.41 bil from 4.76 billion units worth RM3.71 bil yesterday. – July 11, 2024

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