Bursa Malaysia Closes High, Continues Upward Momentum

<p>&nbsp;Most recently, Bursa Malaysia closed high this afternoon due to the global market showing that US stocks closed strong yesterday.</p><p><br /></p><p>The Dow Jones Industrial Average hit a record high for the second time in a row at yesterday's close on expectations that US borrowing rates will fall next year following the somewhat 'dovish' speech by The Fed.</p><p><br /></p><p>At exactly 12.30 this afternoon, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.76 points to 1,461.02 compared to 1,456.26 recorded at yesterday's close. The FBM KLCI also opened 0.31 points lower at 1,455.95 and moved between 1,455.69 and 1,461 throughout the session.</p><p><br /></p><p><br /></p><p>In the market, gainers outnumbered losers by 432 to 368. Meanwhile, 425 counters were unchanged, 1,113 were untraded and 45 others were suspended. Total trading revenue amounted to 2.20 billion units worth RM1.33 billion.</p><p><br /></p><p>According to Hong Leong Investment Bank, the Asian market is currently moving in a rather dangerous situation due to the Fed's 'dovish' speech and China's unstable economic situation. That left investors looking forward to China's industrial data, retail sales and unemployment figures later today.</p><p><br /></p><p>Among heavyweights, Maybank was unchanged at RM9.05, Public Bank added one sen to RM4.31, CIMB four sen better at RM5.85, Tenaga Nasional dropped two sen to RM9.95 and Petronas Chemicals rose eight sen to RM7.23.</p><p><br /></p><p>On the index board, the FBM Emas Index increased 34.15 points to 10,821.82, the FBMT 100 Index added 34.03 points to 10,489.0, the FBM 70 Index jumped 46.32 points to 14,442.95, the FBM ACE4 Index increased 14,442.95, the FBM ACE4 increased 14.14 points. The Shariah index rose 37.68 points to 10,942.52.</p>