Bull run takes Bursa to record high

can it extended till pre and post chinese new year period? better log in some profit( if there is any!)

 

KUALA LUMPUR: Bursa Malaysia continued its bull run this week by closing at an all-time high yesterday, powered by select blue-chip gains as investors rode on positive external sentiments.

The FTSE Bursa Malaysia KLCI (FBM KLCI) gained 16.96 points, or 0.9 per cent, to settle at 1,861.06 points, surpassing the previous high of 1,850.9 recorded on December 17.

In its research note, JF Apex Securities Bhd said FBM KLCI’s gains were buoyed by the inspiring performances in the United States and Asian markets amid an improvement in the US labour
market.

Affin Investment Bank Bhd vice-president and head of retail research, Dr Nazri Khan, told Bernama that the improving market is a good sign as traders anticipate next year to be a good year.

“This is more than just window-dressing. This is fund accumulation in anticipation of a stronger year,” he said.

Meanwhile, Mercury Securities head of research Edmund Tham said the FBM KLCI uptrend did not reflect the broader market as the trading volume was low and buying was more focused on index-linked counters.

“It’s selective window-dressing in blue chips and key heavyweights, not the whole market,” Tham said.

Market volume yesterday rose to 1.18 billion shares worth RM1.28 billion from 905.01 million shares worth RM818.25 million on Thursday.

Gainers thumped losers 496 to 261. Top gainers included Kuala Lumpur Kepong Bhd, which surged 50 sen to RM24.60, Tenaga (46
sen to RM11.60), PPB Group (26 sen to RM15.96) and Petronas Gas (20 sen to RM23.98).