KUALA LUMPUR: The Malaysian stock market surged yesterday, closing at an intraday high amid a buoyant regional performance, driven by hopes that China will soon relax its strict Covid-19 restrictions, dealers say. On the broader market, gainers led decliners 588 to 269, while 391 counters were unchanged, 1,078 untraded, and 19 others suspended. Turnover was slightly lower at 2.39 billion units valued at RM1.72bil versus 2.63 billion units worth RM1.89bil on Thursday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI staged a quick rebound yesterday with more than two-thirds of the key index components closing in the green. “The positive move was largely in line with gains across regional markets that were driven by optimism that China may relax its strict Covid-19 measures,” he told Bernama.

Source: The Star November 05, 2022 04:04 UTC