FBM KLCI - higher but encountered heavy distribution
Stocks on Bursa Malaysia closed higher yesterday amid fresh signs of global economic recovery, boosted by investors' appetite for riskier asset, and fund managers' renewed interest in finance counters after a recent sell down provided support to the key index. The benchmark FBM KLCI touched a high of 1,502.53 before ending at 1,485.26, a 0.89% or 13.16 point increase over Wednesday's close. The index had opened higher by 14.82 points at 1,486.92 and had hit a low of 1,484.42. Gainers led losers by 514 to 279 while 309 counters were unchanged. A total of 1.66 billion shares worth RM1.79 billion changed hands compared with 1.53 billion shares worth RM2.02 billion on Wednesday.