KUALA LUMPUR (May 28): The FBM KLCI closed up 0.54 point or 0.03% at 1,594.44 today after a final-hour nudge helped the 30-stock index finish in positive territory as investors weighed corporate financial results during the ongoing reporting season and after major Asian equity indices ended higher.
Across Bursa Malaysia at 5pm, there were 577 decliners versus 472 gainers.
A total of 8.82 billion securities were traded for RM4.19 billion today. Yesterday, 8.61 billion securities were transacted for RM7.33 billion.
The KLCI had languished in negative territory for almost the entire trading session today before closing up shortly before markets closed.
The KLCI had earlier today fallen to its intraday low of 1,580.78 points and rose to its intraday high of 1,594.62.
At a glance, the share price rise in KLCI-linked financial services providers including Hong Leong Bank Bhd and CIMB Group Holdings Bhd had partly helped erase losses in the final trading hour.
TA Securities Holdings Bhd senior technical analyst Stephen Soo told The Edge today that recovery plays such as the banking sector making a comeback are expected to aid the KLCI amid the Malaysian Government's plan to accelerate the Covid-19 vaccination scheme in the country.
On the KLCI closing flat today, Soo said the performance was within TA’s expectation because there was some "profit-taking interest” following yesterday’s 16.08-point or 1% surge to close at the day's high of 1,593.9.
Across Bursa today, six indices rose while 23 gauges fell. The Construction index rose the most in percentage terms after closing up 2.29%.
The Technology index was the top decliner after closing down 2.28%.