Late buying lifts Bursa Malaysia to end at intraday high

BURSA Malaysia shook off earlier losses to end at its intraday high today, lifted by late buying in selected telecommunications and media, as well as industrial products and services counters, dealers said.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.82 points or 0.39% to 1,499.38, just a whisker below the 1,500 psychological level, from yesterday’s closing of 1,493.56.

The market bellwether opened 1.03 points weaker at 1,492.53 and hit a low of 1,488.95 in the early morning session.

Market breadth also turned positive with gainers surpassing losers 423 to 417, while 432 counters were unchanged, 920 untraded, and 18 others suspended.

Turnover decreased to 2.82 billion units worth RM1.98 bil against Monday’s 3.92 billion units worth RM2.03 bil. – Jan 17, 2023

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