KUALA LUMPUR (March 16): Bursa Malaysia extended upward trend Tuesday, buoyed by hopes that the rollout of the COVID-19 vaccines will spur economic recovery soon.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.33 points to 1,624.25 versus Monday’s close of 1,620.92.
The index opened 2.88 points higher at 1,623.80.
On the broader market, gainers led losers 317 to 195, while 345 counters were unchanged, 1,358 untraded and nine others suspended.
Total volume stood at 560.06 million units valued at RM275.18 million.
Malacca Securities said with the arrival of another batch of Pfizer-BioNTech and Sinovac vaccines, it believes the key index should be trending higher amid expectation of a brighter economic outlook, as well as firmer crude palm oil and oil prices.- The Edge Market