Bursa rebounded on late buying yesterday

Bursa Malaysia’s benchmark index saw a late-session surge, closing higher after experiencing a midday dip due to weakened sentiment in regional markets influenced by disappointing U.S. consumer confidence data. The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.01 points, or 0.18%, finishing at 1,673.38, compared to Tuesday’s close of 1,670.37.

Late buying

Opening at 1,674.06, the FBM KLCI fluctuated between a low of 1,665.19 and a high of 1,675.73 throughout the trading day. Despite the index’s recovery, market breadth remained negative, with decliners outpacing gainers by 790 to 397. Additionally, 473 stocks closed unchanged, while 857 were untraded and 18 were suspended. Trading volume increased to 3.59 billion units, valued at RM3.29 billion, up from Tuesday’s 3.51 billion units worth RM3.10 billion.

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