KUALA LUMPUR: The FBM KLCI gained 1.3 points or 0.1% as investors cashed in on the index’s recent gains.
At 5pm, the KLCI closed at 1,728.66 points after hitting an intra-day high at 1,734.07 points. Yesterday, the index rose 18.98 points to close at 1,727.36 points on foreign institutional buying.
Today, Bursa Malaysia saw a trade volume of 3.39 billion shares worth RM2.92 billion. There were 586 gainers against 320 decliners.
Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com that Bursa Malaysia’s “good” volume signalled profit-taking following a positive start this week.
As investors took profit, the spotlight is on the US interest rate direction. Tham said investors were waiting on the sidelines ahead of the US Federal Reserve’s Federal Open Market Committee meeting this March 14 and 15.
In Malaysia today, TA Securities Holdings Bhd had earlier written in a note that “(the KLCI’s) trading volatility should pick up with increasing overbought momentum to encourage profit-taking, as the benchmark sets itself to challenge key historical highs.”
