KUALA LUMPUR: Share prices on Bursa Malaysia closed higher on Wednesday, Dec 22 on mild buying interest in selected heavyweights as investors reacted positively towards several active changes in the corporate scene, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) was 9.87 points higher at 1,515.05 compared to Tuesday's close of 1,505.18.
The benchmark index opened 0.69 of a point higher at 1,505.87 and moved between 1,504.9 and 1,515.05.
ING Funds Bhd, in a statement, said that the FBM KLCI would touch 1,650 points by end of next year based on projected corporate earnings growth of 15 percent for 2011, pegged to an average five-year price earnings ratio of 15.5 times.
"Our optimism is driven by capital flows and potential increase in money supply domestically," it said.
Since the beginning of the year, in tandem with the region, the local benchmark index had charted a convincing upward climb, rising close to 20 per cent year-to-date, said the fund manager.
The Finance Index surged 51.47 points to 13,821.81, the PLANTATION [] Index increased to 11.52 points to 7,868.5 and the INDUSTRIAL INDEX [] rose 9.56 points to 2,798.37.
The FBM Emas Index jumped 52.58 points to 13,874.39, the FBM 70 Index was 23.979 points higher at 10,899.96 while the FBM Ace Index slipped 41.05 points to 4,269.38.
Gainers led losers by 394 to 374, while 284 counters were unchanged, 340 untraded and 29 others suspended.
Total volume declined to 1.253 billion shares worth RM1.664 billion from Tuesday's close of 1.361 billion shares valued at RM1.87 billion. ' Bernama
The FTSE Bursa Malaysia KLCI (FBM KLCI) was 9.87 points higher at 1,515.05 compared to Tuesday's close of 1,505.18.
The benchmark index opened 0.69 of a point higher at 1,505.87 and moved between 1,504.9 and 1,515.05.
ING Funds Bhd, in a statement, said that the FBM KLCI would touch 1,650 points by end of next year based on projected corporate earnings growth of 15 percent for 2011, pegged to an average five-year price earnings ratio of 15.5 times.
"Our optimism is driven by capital flows and potential increase in money supply domestically," it said.
Since the beginning of the year, in tandem with the region, the local benchmark index had charted a convincing upward climb, rising close to 20 per cent year-to-date, said the fund manager.
The Finance Index surged 51.47 points to 13,821.81, the PLANTATION [] Index increased to 11.52 points to 7,868.5 and the INDUSTRIAL INDEX [] rose 9.56 points to 2,798.37.
The FBM Emas Index jumped 52.58 points to 13,874.39, the FBM 70 Index was 23.979 points higher at 10,899.96 while the FBM Ace Index slipped 41.05 points to 4,269.38.
Gainers led losers by 394 to 374, while 284 counters were unchanged, 340 untraded and 29 others suspended.
Total volume declined to 1.253 billion shares worth RM1.664 billion from Tuesday's close of 1.361 billion shares valued at RM1.87 billion. ' Bernama
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