Friday 29 Mar 2024
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KUALA LUMPUR (July 19): The FBM KLCI rose 2.35 points or 0.1% as China shares gained amid optimism on the country's economy.
 
At 5pm, the KLCI closed at 1,757.27 points. In China,
the Shanghai Stock Exchange Composite rose 1.36% while Hong Kong's Hang Seng added 0.56%.

Reuters reported that optimism on China's economy underpinned Asian shares and commodities.

It was reported that China's major share indexes rebounded on Wednesday as investors piled into blue chips after robust economic growth data and on expectations that Beijing is stepping up efforts to reform lumbering and inefficient state companies.

In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com : "The index (KLCI) seems to be trying to hold [at current] levels.”

Across Bursa Malaysia, 2.17 billion shares valued at RM2.29 billion were traded. Gainers outpaced decliners at 406 to 383 respectively.

Notable among most-active stocks was Malayan Banking Bhd (Maybank). Maybank share gains appeared to have given the KLCI a last-minute push.

Maybank shares added four sen to close at RM9.64 with some 28 million shares traded. Maybank was Bursa Malaysia's ninth most-active stock.

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