KUALA LUMPUR – Bursa Malaysia extended yesterday’s modest gains to end higher today, influenced by bullish external factors with crude oil closing at its highest level since October 2018 and economies crawling out from the Covid-19 pandemic.
At the same time, investors are eyeing US payrolls data to be released on Friday for a better view on the current labour market situation – providing clues for the Federal Reserve.
Asian shares meanwhile were mixed.
At 5pm, the benchmark FBM KLCI surged 12.04 points or 0.76% to finish at 1,597.94 versus 1,585.90 at yesterday’s close.
The index today slightly breached the earlier target set by Rakuten Trade which expected it to trend within the 1,585-1,595 range today.
The FBM KLCI opened 0.43 points lower at 1,585.47 and moved between 1,585.47 and 1,598.61 throughout the day.
Buying support for stocks across the board boosted market breadth with gainers thumping losers 711 to 362, while 431 counters were unchanged, 630 untraded, and 11 others suspended.
Buying momentum was however slightly lower at 7.44 billion units worth RM4.01 billion compared with 8.98 billion units worth RM5.13 billion recorded at yesterday’s close. – Bernama, June 2, 2021
