KL shares end higher, CI up 6.19 points

Bursa Malaysia rebounded today after losing 47 points in five days as investors took the cue from the strong gains in the

regional and US markets, dealers said.

The market closed on a firm note on technical rebound, especially consumer,trade and services stocks, which pushed the FTSE Bursa Malaysia KLCI (FBM KLCI) into positive territory throughout the day.

The benchmark FBM KLCI rose 6.19 points to 1,831.3 after opening 1.84 points higher at 1,826.95.

The barometer index fluctuated between 1,825.9 and 1,838.39.

Dealers said local stock market moved in sync with the regional peers which closed higher, spurred by the rebound in US market.

HwangDBS Vickers Research, in a report, said the market staged a technical rebound following a five-day losing streak.

The benchmark FBM KLCI, which has retreated 47.4 points, or 2.5 per cent since last Monday, may pull away from the immediate support level of 1,825.

"The sentiment gets a boost from an overnight rise on Wall Street after the key equity indices ended between 0.6 and one per cent higher," it said.

However, a dealer said, cautious tone prevailed ahead of the release of the US' December 13 Federal Open Market Committee meeting minutes tonight and the closely-watched non-farm payrolls report for December.

The Finance Index fell 89.621 points to 16,721.02.

The Plantation Index rose 26 points to 8,714.63 and the Industrial Index was 19.48 points higher at 3,104.48.

The FBM Emas Index rose 33.319 points to 12,678.3, FBMT100 Index surged 33.391 points to 12,387.32, FBM Ace improved 149.84 points to 5,962.68 and the FBM 70 rose 4.5 points to 14,107.61.

Among actives, Iris Corp slipped 5.5 sen to 38 sen, Barakah Offshore added five sen to RM1.63 and Smartag Solutions gained 1.5 sen to 15 sen.

Of the heavyweights, Maybank lost 15 sen to RM9.81, Tenaga increased 68 sen to RM11.80 and Axiata slipped one sen to RM6.77.

Volume on the Main Market declined to 1.13 billion shares worth RM1.79 billion from 1.25 billion shares worth RM1.77 billion yesterday.

Turnover on the ACE market rose to 4.77.84 million units valued at RM116.42 million from 444.75 million units valued at RM101.39 million on Tuesday.

Warrants surged to 50.09 million shares worth RM5.07 million from 37.2 million shares worth RM4.73 million yesterday.

Consumer products accounted for 123.92 million shares traded on the Main Market, industrial products 253.73 million, construction 60.19 million, trade and services 394.43 million, technology 51.3 million, infrastructure 14.48 million, SPAC 19.78 million, finance 39.98 million, hotels 2.47 million,

properties 151.35 million, plantations 16.07 million, mining 39,000, REITs 6.17 million and closed/fund 54,000.-- Bernama