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FBM KLCI breaks out of overhead resistance.
Byline: S.N. Lock
SHARE prices on Bursa Malaysia consolidated in the first four trading days of this week before staging a sharp rebound yesterday. The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) continued to stay above its critical support of 1,100 points when it closed at 1,174.90 s yesterday.
The FBM KLCI opened marginally lower on Monday before slipping to its intra-day low of 1,148.26. It closed at 1,156.43 points, giving a day-on-day gain of 0.55 point, or 0.05 per cent. Overall market sentiment on Bursa Malaysia strengthened in tandem with rebounds on regional stock markets on Tuesday. The FBM KLCI closed at 1,172.38, giving a day-on-day gain of 15.95 points, or 1.38 per cent.
The market's …
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