(From New Straits Times (Malaysia))
LAST week, share prices on the Kuala Lumpur Stock Exchange (KLSE) closed higher on foreign and local institutional investors buying support of heavyweight index-linked blue-chips.
The foreign and local institutional investors strong buying interests on heavyweight index-linked counters lifted the KLSE Composite Index (CI) out of its recent range-bound activities.
Heavyweight index-linked counters took over as the new market leaders while oil and gas, construction, property and water utilities-related counters took a backseat.
The scramble for heavyweight index-linked counters took the market by storm. Many retail investors were puzzled as to why there was such a rush to mop up these shares.
Ratings agency Standard & Poors upgraded Malaysia's credit rating by one notch on Wednesday and provided the timely impetus for the CI to break free from its range-bound trading activities.
News of falling job claims and improved corporate earnings in the US helped boost …