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KUALA LUMPUR (Dec 30): FBM KLCI closed up 9.42 points or 0.58% at 1,644.41 today after MSCI’s Asia-Pacific stock indicator rose to a record in betting of global economic recovery in anticipation of continued support for global monetary and fiscal policy. The fund managers’ portfolio showcase is also seen as contributing to Malaysian equities earnings.
In Bursa Malaysia at 5pm, 7.82 billion securities were traded for RM3.65 billion.
“Stocks should return to baseline build mode to strengthen higher supports pending possible late front action before year-end,” analysts at TA Securities Holdings Bhd wrote today in a note.
Globally, Asian stocks were reported to hit an all-time high on Wednesday and investors are betting on a strong economic recovery next year, as there is little sign that policymakers are backing down on stimulus efforts. massive aimed at avoiding recessions driven by the coronavirus
The MSCI gauge of Asia-Pacific equities excluding Japan was reported to rise 1.2% to hit an all-time high, led by gains in Chinese equities and lifting its year-to-year gains to 18. , 9%.
“We believe that continued support for fiscal and monetary policy means investors must take risks. Stocks will perform better than bonds. Within bonds, corporate bonds should outperform government bonds,” Reuters quoted Hiroshi Yokotani as saying. , director of fixed income business for Asia and the Pacific at State Street. Global Advisors, as if to say.
A look at Bursa today shows that notable winners include Press Metal Aluminum Holdings Bhd and Toyo Ventures Holdings Bhd.
The share price of Press Metal, a component of KLCI, closed up 50 sen or 6.25% at RM8.50, while Toyo Ventures hit the cap after its share price rose 30 sen or 30 % at RM1.30.
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