Tuesday, July 20, 2010

Share prices closed higher on technical rebound

KUALA LUMPUR: A technical rebound saw shares prices closing higher on Tuesday, July 20, underpinned by bullish external factors including Wall Street's recovery.

At 5pm, the FTSE Bursa Malaysia KUALA LUMPUR COMPOSITE INDEX [] ended 4.32 points better at 1,337.67, after opening 1.18 points higher at 1,334.532, with continuous interest focused on selected heavyweights and lower liners.

An analyst said Wall Street staged a technical rebound following Dow Jones INDUSTRIAL INDEX []'s 56.53-point rise overnight.

The Nasdaq composite index rose 19.18 points to 2,198.23 and the broader S&P 500 index gained 6.37 points to 1,071.25.

He said speculation that the Chinese government would relax housing policies also lent support to the local bourse.

The FBM Emas Index added 29.85 points to 9,070.59, the FBM Ace Index increased 33.21 points to 3,776.62 and the FBM70 [] gained 14.64 points to 9,111.54.

The Finance Index rose 34.76 points to 12,120.57, the Industrial Index firmed 8.97 points to 2,652.79 and the PLANTATION [] Index surged 42.04 points
to 6,297.09.

Gainers outnumbered losers 466 to 278 while 250 counters were unchanged, 371 untraded and 23 others were suspended.

Turnover rose 1.126 billion shares, worth RM1.321 billion, from 848.631 million shares, worth RM1.330 billion, registered yesterday. -- Bernama

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