FBM KLCI up 13.4pts; Maybank says volatility to continue as GE14 nears

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KUALA LUMPUR (May 8): The FBM KLCI climbed 13.4 points or 0.7% on bargain hunting ahead of Malaysia's 14th General Election (GE14).

At Bursa Malaysia, the KLCI settled at 1,841.60 points after falling to its lowest so far today at 1,819.28 points. Yesterday, the KLCI closed 13.63 points or 0.7% lower at 1,828.2 points amid cautious sentiment ahead of GE14's polling day tomorrow.

Today, a dealer from Maybank Investment Bank Bhd told theedgemarkets.com over telephone: "The market is certainly excited about the prospect of the country's GE14. It (market) is continuing its volatility trend and will continue to do so later today."

Across Bursa Malaysia, volume traded was 1.13 billion shares valued at RM911.71 million. Top gainers included Nestle (M) Bhd, Petronas Gas Bhd and CIMB Group Holdings Bhd.

Bursa Malaysia said it will be closed tomorrow in conjunction with the GE14 polling day. Trading resumes on Thursday, the bourse regulator and operator said.