#Market Close* KLCI up 0.3% ahead of Chinese New Year

  • Mosti deny accusations that R&D grant of RM1.152 billion was abused – Bernama

    The Ministry of Science, Technology and Innovation (Mosti) today denied allegations of abusing grants amounting to RM1.152 billion that was allocated for research and development (R&D). Its deputy minister Datuk Dr Abu Bakar Mohamad Diah said the allocation for the R&D was given to researchers or applicants using a tight procedure. He said... …

  • Singaporean tourist killed, 39 injured in bus accident, the third in 8 days – Bernama

    A Singaporean tourist was killed while 39 others were injured, including two drivers, when the double-decker tour bus they were travelling in plunged into a ravine at KM70 of the Kuantan-Segamat highway near Pekan, Pahang, this afternoon.  The bus, driven by a local driver, transporting 38 Singaporean tourists from Redang Island, Terengganu to... …

  • Shahidan proposes 3 deputy director-general posts in Esscom – Bernama
    Shahidan proposes 3 deputy director-general posts in Esscom – Bernama

    Minister in the Prime Minister's Department Datuk Seri Shahidan Kassim (pic) has proposed to create three deputy director-general posts in the Eastern Sabah Security Command (Esscom) to enable it to function more effectively. Shahidan said the posts could be created representing the three leading enforcement agencies, Malaysian Armed Forces,... …

  • Raja Bomoh spouting mumbo-jumbo again
    Raja Bomoh spouting mumbo-jumbo again

    Bomoh (shaman) Ibrahim Mat Zin (pic, third left) is in the headlines for the wrong reasons again, this time for conducting a cleansing ritual along KM306.1 of the North-South Expressway. The area has been in the spotlight since last Thursday after Bukit Gelugor MP Karpal Singh died when his Toyota Alphard was involved in a collision with a... …

  • Government may install temporary pipe to channel water directly to Sg Langat – Bernama

    The Government is considering installing a 1.5-kilometre temporary pipe from the tunnel that will supply raw water from Pahang to the Langat 2 Water Treatment Plant, to Sungai Langat in Selangor to feed water to existing water treatment plants as a means to solve the water crisis in the Klang Valley. Deputy Minister of Energy, Green Technology... …

  • Syabas hopeful first, third, fourth stage of water rationing to end April 30 – Bernama
    Syabas hopeful first, third, fourth stage of water rationing to end April 30 – Bernama

    Water supply rationing for the first, third and fourth stage of the plan is expected to end on April 30, according to one of the parties responsible for the supply of the natural resource in the Klang Valley. Syarikat Bekalan Air Selangor (Syabas) corporate communications and public affairs assistant general manager, Priscilla Alfred said this... …

KUALA LUMPUR (Feb 8): The FBM KLCI ended the week higher, supported by news-driven counters and government-linked corporations, amid quiet trading ahead of a long 4-day break.

At 5pm market close, the key index rose 4.23 points or 0.3% to end at 1623.80 points.

Across the exchange, gainers led losers by 376 to 217, while 314 counters traded unchanged. Volume was 666.8 million shares valued at RM1.3 billion.

A senior dealer said the market was quiet today mainly because many proprietory day traders, who are also market makers, have left the market for Chinese New Year.

"Look at the top actives, their volumes were low and total value less than RM2 million. The day traders have left the market early," the dealer told theedgemalaysia.com.

Affin Investment bank vice president and head of retail research Dr Nazri Khan said following the bullish performance of the regional stocks and the sharp correction in the local stocks, he expects the local index to stage an “oversold rebound” with 1,630 as the immediate target.

“Better data out of China and USA of late have also contributed to the optimism about regional growth.

“We note that Asian shares were mostly higher after China posted stronger than expected trade data for the first month of the year,” he said.

Among the gainers on Bursa Malaysia, British American Tobacco added 60 sen to RM58.40, SP Setia jumped 16 sen to RM3.27, Hwang DBS gained 15 sen to RM3.80, Genting Plantations rose16 sen to RM8.46 and AEON Credit picked up 38 sen to RM11.

The decliners included Petronas Dagangan, PPB Group, Hong Leong Financial Group, Hartalega Holdings, IJM Land and KLCC Property Holdings.

Oil, copper and Asian shares rose on Friday after China's strong trade data set the scene for economic recovery, although investors opted to book profits before next week's Chinese New Year holidays, limiting gains, according to Reuters.

Japan's Nikkei stock average snapped a 12-week winning streak to close down 1.8% as investors took profits from the index's surge to its highest level since October 2008 on Wednesday. Japanese markets will be closed on Monday for a public holiday.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • In funeral procession, thousands chant ‘Karpal Singh! Karpal Singh! Karpal Singh’ (VIDEO) The Malay Mail Online
    In funeral procession, thousands chant ‘Karpal Singh! Karpal Singh! Karpal Singh’ (VIDEO)

    GEORGE TOWN, April 20 — The streets of Penang’s historical city centre roared with the voices of thousands calling out the name of their state’s beloved son — Karpal Singh.  Elbows jostled with... …

  • Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user The Malaysian Insider
    Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user

    A Barisan Nasional MP whose Facebook posting poking fun at the death of Karpal Singh shocked Malaysians has again insulted the late DAP leader, this time comparing him to a hostile figure in Islamic history who fought against Prophet Muhammad. Facebook user Shamsul Kamal Ariffin Mohd Nasir, 42, told The Malaysian Insider that Langkawi MP,... …

  • Remains of Karpal’s aide to be flown back to India The Malaysian Insider
    Remains of Karpal’s aide to be flown back to India

    The remains of Karpal Singh’s personal aide Michael Cornelius, who died in Thursday's accident along with the Bukit Gelugor MP, will be flown back to India today, according to media reports. Prayers would be held for Michael, 39, at the Ipoh Hospital mortuary before his remains are transferred to the Kuala Lumpur International Airport, The... …