FBM KLCI ends higher on last minute buying

FBM KLCI ends higher on last minute buying
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KUALA LUMPUR (Nov 19): The FBM KLCI closed 0.95 point or 0.06% higher today after erasing losses at the last minute on buying interest in index-linked stocks, as world markets took cue from the status of US-China trade talks.

At 5pm, the KLCI closed at its intraday high at 1,605.31, after falling to its intraday low at 1,595.15, as US-China trade uncertainties hit world markets.
Reuters reported Asian share markets were mixed in subdued trade on Tuesday, pending clearer news on whether US-China negotiations will reach a preliminary accord to end the prolonged trade war between the world's two largest economies.

Reuters said CNBC reported the mood in Beijing was pessimistic about prospects of sealing a trade agreement with the US.

In Malaysia, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com the KLCI had earlier today fallen due to a correction following yesterday's rise.

“It’s very much still a retail play in the market. The institutions are still very cautious,” Soo said today.

Bursa Malaysia saw 2.68 billion shares, worth RM1.63 billion, traded across the exchange.

Top gainers included KLCI stocks Hong Leong Bank Bhd and Public Bank Bhd.
Hong Leong Bank's share price closed 20 sen or 1.19% higher at RM17.