KUALA LUMPUR (Jan 27): The FBM KLCI settled 5.61 points or 0.3% higher, paring earlier gains as China share losses hit sentiment.
At 12:30pm, the KLCI settled at 1,632.27 points, after reaching an intraday high at 1,640.84. In China, the Shanghai Composite fell 3.03%.
Reuters reported China stocks tumbled again on Wednesday, hitting fresh one-year lows, amid signs the recent market rout is triggering margin calls and forced liquidation, threatening yet another vicious downward market spiral.
In Malaysia, BIMB Securities Sdn Bhd said in a note today that the KLCI was expected to "remain volatile" in the short term.
BIMB said the index was expected to hover around the 1,620 and 1,630 level.
Today, Bursa Malaysia saw gainers leading decliners by 405 to 311, while 330 counters traded unchanged.
Volume was 787.03 million shares, valued at RM674.05 million. The top gainer was Petronas Gas Bhd, whilst the leading decliner was United Plantations Bhd.
The Media Shoppe Bhd was the most actively-traded counter.
Among decliners, IGB Real Estate Investment Trust (IGB REIT) fell as much as three sen or 2%, after the group reported lower net profit, from a year earlier.
IGB REIT shares fell to their lowest so far today at RM1.36 at 12:30pm. The property trust's latest reported net assets per share stood at RM1.06.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)