FBM KLCI up 10.09 points as Bursa volume tops five billion shares

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KUALA LUMPUR (Jan 3): The FBM KLCI rose 10.09 points or 0.6% while trading volume across Bursa Malaysia topped five bllion shares on Malaysia's 14th general election cue.

Such sentiment was apparent as investors bought Malaysian government-linked stocks like Petronas Gas Bhd and Sime Darby Bhd, according to fund managers.

Bloomberg quoted Areca Capital Sdn Bhd CEO Danny Wong Teck Meng as saying "investors are buying into the nation’s government-linked companies ahead of a national election" this year.

Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that Malaysian shares rose "due to the stimulus programme from central banks around the world".

Across Bursa Malaysia today, trading volume was 5.11 billion shares worth RM3.68 billion. Yesterday, the bourse recorded a trading volume of 3.69 billion shares worth RM2.11 billion.

Today, Bursa Malaysia shares rose 28 sen to RM10.40 to become the seventh-largest gainer across the exchange.