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.
Rakuten Trade Research vice president Vincent Lau told
theedgemarkets.com today the biggest driver of the KLCI’s rise is the passing of Budget 2021 at third reading in parliament this afternoon.
The news reported that the third reading of Budget 2021 was passed in Dewan Rakyat today after the opposition lost another en bloc vote by a razor-thin margin.
A total of 111 Members of Parliament voted in favour of Budget 2021, which was proposed by the Perikatan Nasional government, versus 108 who voted against the budget, while one was absent.
Across Bursa Malaysia today, sentiment was mixed with 657 gainers versus 524 decliners, while 525 counters were unchanged. A total of 9.96 billion securities were traded for RM5.09 billion, lower than the 11.88 billion units worth RM7.09 billion recorded yesterday.