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Stocks on Bursa Malaysia closed higher yesterday on gains in selected blue-chips. Although the market failed to make a breakthrough yesterday the momentum has been set for it to further move up and try breaks the resistance in the near term. The FBM KLCI rose 5.44 points or 0.34% to close at 1,589.22 after hitting the intra-day high of 1,594.72. Advancers led decliners by 391 to 325 while 414 counters were unchanged. Total volume declined to 1.448 billion shares valued at RM1.760 billion from 1.630 billion shares valued at RM1.934 billion last Friday. 

Stocks on Bursa Malaysia closed sharply higher last Friday, prompted by firmer regional markets. The benchmark FBM KLCI rose by 10.33 points or 0.66% to close at 1,583.78, and on a weekly basis, it gained 25.01 points from the previous Friday’s close of 1,558.77. Advancers led losers by 540 to 276 while 330 counters were unchanged. Turnover rose to 1.63 billion shares worth RM1.93 billion from 1.62 billion shares worth RM2.02 billion on Thursday. Weekly volume decreased to 8.560 billion shares worth RM9.87 billion from 9.635 billion shares worth RM9.345 billion the previous week.

Stocks on Bursa Malaysia closed on a mixed note yesterday in cautious trading in line with regional markets, weighed by a higher yen and weak China’s manufacturing data. News that Federal Reserve chairman Ben Bernanke had no plans to further ease monetary policy to stimulate the US economy also dampened sentiment. The FBM KLCI rose by 3.80 points or 0.24% to close at 1,573.45, helped by gains in heavyweights. Losers led gainers by 506 to 309 while 302 counters were unchanged. Turnover fell to 1.62 billion shares worth RM2.02 billion from Wednesday’s 1.94 billion shares worth RM2.69 billion.