Bursa Malaysia ends at day's high for second day running

 Publish date: Tue, 5 Nov 2019, 6:27 PM

KUALA LUMPUR: Bursa Malaysia rebounded to close at its intraday high for the second consecutive day today after trading in negative territory for most part of the day, lifted by financial related heavyweight counters.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 3.18 points at 1,606.74 compared with yesterday’s close of 1,603.56.
The key index opened 4.49 points lower at 1,599.07, which was also its intraday low.
On the broader market, losers edged gainers by 425 to 403, while 407 counters were unchanged, 713 untraded and 16 others suspended.
Volume expanded to 2.6 billion shares worth RM2.25 billion from yesterday’s 2.5 billion shares worth RM1.85 billion.
An analyst said the local market’s upbeat performance was in line with the positive market sentiment as Bank Negara Malaysia (BNM) today retained its overnight policy rate at three per cent.
“BNM is positive that despite the headwinds, the local economy could still sustain and would continue to grow at a moderate pace.
“This decision has lifted the financial stocks that have been under pressure since morning. Most financial stocks closed higher today,” she said.
The BNM Monetary Policy Committee meeting today is the last for this year and the next meeting is scheduled on Jan 21-22, 2020.
Among heavyweight financial stocks, Maybank gained three sen to RM8.66, Public Bank went up six sen to RM19.86, CIMB Group rose eight sen to RM5.33, RHB Bank inched up one sen to RM5.76 and AMMB climbed eight sen to RM4.10.
 - Bernama 
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