KLCI rises 0.2%, sideway trades seen

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KUALA LUMPUR (Sep 9): The FBM KLCI rose 3.03 points or 0.16 %  to settle at 1874.12 points at 5pm.

Fund managers said the KLCI would continue to trade sideways for the next few days on the lack of news flow to boost trading.

"Market sentiment would most likely be affected as news of the MH17 tragedy trickles in and as Europe finalises its quantitative easing. There has not been much news to give the market a boost recently. We are awaiting the European quantitative easing programme which should be finalised soon.

"Currently, the market is trading more on liquidity rather than fundamentals. Once quantitative easing takes place, there will be some spillover effect to the domestic market,” the fund manager told theedgemalaysia.com over telephone.

Across Bursa Malaysia, the total number of shares traded stood  at 2.46 billion valued at RM2.02 billion.

Top gainers included British American Tobacco (M) Bhd, Aeon Credit Service (M) Bhd and United Plantations Bhd.

Meanwhile, Kuala Lumpur Kepong Bhd, Hong Leong Bank and Lysaght Galvanised Steel Bhd were among top decliners.

The most-active stock was Globaltec Formation Bhd.