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KLCI opens higher but retreats thereafter

KLCI opens higher but retreats thereafter
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FBM KLCI rides on overnight Wall Street gains, December window dressing

KUALA LUMPUR (Dec 16): The FBM KLCI extended its gain for the second day running, tracking uptrends in regional bourses thanks to positive market sentiment emanating from the overnight surge on Wall Street and supported by ongoing window-dressing activities as well as Budget 2021 being approved by the Dewan Rakyat yesterday.
At 5pm, the FBM KLCI closed 0.44% or 7.39 points higher at 1,681.41, after moving between 1,679.39 and 1,695.87.
Across Bursa Malaysia today, the sentiment was positive with 830 gainers versus 453 decliners, while 458 counters were unchanged. A total of 11.22 billion securities were traded for RM5.18 billion, higher compared to 9.96 billion units worth RM5.09 billion recorded yesterday.
Reuters reported that Asian stocks were buoyant on Wednesday and the US dollar eased as hopes of effective coronavirus vaccines and the growing prospect of more US fiscal stimulus cheered investors ahead of the Christmas holiday season. ....

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