FBM KLCI gained 34.39 points or 2% to closed at 1,681.54 after the Malaysian government’s announced several economic measures, which included a RM20 billion allocation for state-owned fund manager Valuecap Sdn Bhd to buy undervalued shares here.

Bursa Malaysia saw 2.24 billion shares, valued at RM3.14 billion, exchanged. Gainers outnumbered decliners at 672 against 226, while 286 counters were unchanged.

One remisier said: “So far, the local market is temporarily bullish, but it is unclear if the upward trend will be sustainable, moving forward. The index will be testing the 1,700 resistance level in the near-term."

Khazanah emerges as substantial shareholder in newly listed Aemulus. They had subscribed to some 65.83 million shares or 15% via private placement on last Friday (Sept 11).

This post has been edited by nexona88: Sep 17 2015, 10:56 PM

it's going up

KLCI could hit 1,700 in short term, says Affin Hwang

"We, however, do not rule out the possibility that the Feds Open Market Committee would revise its decision at its next meeting in October or December, especially when Fed Chair Janet Yellen had indicated that a rate rise was still likely this year.

http://www.thestar.com.my/Business/Busines...wang/?style=biz

Who will benefit from RM20 billion pumped into economy?

http://www.theedgemarkets.com/my/article/w...?type=Corporate

AmInvest: KLCI to return to 1,700 levels once domestic issues sorted

http://www.theedgemarkets.com/my/article/a...?type=Corporate

Investors harbour doubts over Malaysia's stock market rescue plan

http://www.theedgemarkets.com/my/article/i...?type=Corporate

valuecap already started buying spree?

Local institutions were net buyers on Bursa Malaysia on Thursday with net buying of RM90.4mil and local retailers slowing their net buying to RM4.9mil.

BIMB Securities Research said foreign institutions were net sellers at -RM95.3mil.

KLCI was down 5.13 points or 0.31% to 1,628.80. Turnover was 1.33 billion shares valued at RM1.69bil. There were 397 gainers to 364 losers and 322 counters unchanged.

JF Apex Securities Sdn Bhd analyst Lee Cherng Wee said that the KLCI was taking a breather today after regaining some ground yesterday

Today, Lee said: "It was a mixed performance from the market today. The fact that US (and European) markets were both down yesterday did not help to boost investor sentiment either."

The KLCI's losses compared to gains in certain regional markets. Japan's Nikkei 225 was up 0.02% while Hong Kong's Hang Seng jumped 3.17%.

Reuters reported that although Asian markets firmed up today, the outlook remains grim as investors continue dumping emerging market assets as their growth expectations fade.

KLCI rose 18.79 points or 1.15% to close at 1,647.59pts. Bursa Malaysia saw 1.91 billion shares worth RM1.86 billion traded. There were 601 gainers and 236 decliners.

Areca Capital Sdn Bhd chief executive officer Danny Wong described the KLCI's rise as a budget rally. Wong said the financial sector, as the key component of the KLCI, would see more interest from investors and would continue to lead the market rebound.

Danny Wong said that the KLCI had gained on "revived interest on banking stocks amid interest towards the banking sector".

"This is pre-budget bounce back. We hope there will be more good news on commodity, crude palm oil besides oil and gas prices. Normally, during winter at year-end, oil and gas prices will rebound, and Malaysia will be a beneficiary on this," Wong said.

KLCI was up 14.92 points or 0.91% to 1,662.51. Turnover was 2.13 billion shares valued at RM2.18bil – the highest in recent weeks.

Advancing counters beat decliners 495 to 363 while 309 counters were unchanged.

JF Apex Securities research head Lee Chung Cheng said the KLCI rose on the back of a surge in US markets.

Lee said US shares rose after weaker job data there prompted speculation that the Federal Reserve would postpone its interest rate hike to next year.

"The TPPA had also played a role in the KLCI's gains. If you look at the morning session, export-oriented shares rose," he said.

FBM KLCI rose 26.74 points or 1.61% as crude oil prices recovered above US$50 a barrel and as the ringgit gained as much as 4.5% versus the US dollar.

Bursa Malaysia saw 2.69 billion shares worth RM3.21 billion traded. The bourse saw 699 gainers outnumbering 223 decliners.

Jupiter Securities Sdn Bhd chief market strategist Benny Lee said the "strengthening of the ringgit and higher oil prices have boosted market confidence".

"As we are in last quarter now, we expect there will be window dressing. This is coupled with the expectation of the RM20 billion injection into ValueCap to boost the market," Lee said.

Reuters reported that a recovery in oil prices spread to stock markets and emerging market currencies on Wednesday, with the prospect of more support from the world's central banks offsetting more disappointing economic data.

Foreign fund buying drove Bursa Malaysia sharply higher on Wednesday with net buying climbing to RM290.1mil, according to BIMB Securities Research.

This saw local institutions taking the opportunity to take profit with net selling at -RM226.4mil while retails investors also were net sellers at –RM63.7mil.

“Asian stocks are expected to extend gains today following a positive lead from Wall Street.

“We expect the market to gain buying interest today with the index to hover at around 1,690 to 1,710,” it said.

FBM KLCI was up 2.95 points or 0.17% to 1,692.20 but off the intra-day low of 1,681.78. Turnover was 2.29 billion shares valued at RM2.66bil. Decliners beat advancers 520 to 339 while 302 counters were unchanged.

On the broader market, Areca Capital Sdn Bhd chief executive officer Danny Wong said investors were taking a break as they waited for new catalysts.

"Prior to this, they have been looking for undervalued stocks to invest but with the rebound of certain stocks, the discount is less. So, investors are taking a break to look for new ideas," Wong said.

The new catalyst for the local market is seen in crude oil prices. "I think the producers will suggest a solution to cut production to keep crude oil prices at US$60 per barrel," Wong said.

FBM KLCI rose 1.02% at the midday break today, staying firmly above the 1,700-point level in line with the strong gains at regional markets.

BIMB Securities Research expect the buying momentum of the local bourse to persist and may carry the index to beyond the 1,700 mark today.

KLCI was up 14.34 points or 0.85% to 1,706.54. Turnover was 2.46 billion shares valued at RM2.84bil. There were 567 gainers, 305 losers and 335 counters unchanged.

Areca Capital Sdn Bhd chief executive officer Danny Wong said, "Improved crude oil prices is the key factor that boosted the local market today."

"For the past two days, we can see foreign fund inflow in the local market. The inflow will continue if oil prices continue to go up," Wong said.

Today, crude oil, currency and share markets took the cue from investors' expectation on the timing of US interest rate hikes.

Wong noted that the US Federal Reserve (Fed)'s meeting minutes, which hinted that a rate hike was unlikely to happen this year, had given more clarity to the market.

KLCI was up 3.32 points or 0.19% to 1,709.86. Turnover was 2.09 billion shares valued at RM2.20bil. The broader was mixed with 430 gainers to 404 losers and 327 counters unchanged.

Public Investment Bank Bhd research head Ching Weng Jin said that "market breadth is positive but the performance of the key index is still dependent on regional market sentiment".

"The sentiment has recovered and the (gaining) momentum should be sustained. We have probably seen a bit of profit taking as the market has gone up quite strongly over last couple of days," Ching said.

Teck Guan gets UMA over significant share price jump