Markets
Bullish start for Bursa
Stephanie Jacob | 05 Jan 2018 00:30
The traditional December window-dressing rally is far from over for the local bourse judging from the manner the FBM KLCI has kicked-off the year strongly.

Sceptics who doubted the sustainability of the benchmark index closing at its highest level in more than two-and-a-half-years – a 9.4% gain throughout 2017 which ironically was the worst performer in the Asean region – were almost spot-on when the market pulled back sharply on the first trading day of 2018, erasing most of the gains made on the last trading day of 2017.

However, the bleak start did not last long as investors – in particular, institutions and foreign funds – looked to external factors for the much needed catalysts to spark a comeback.

On Jan 3, a strong feel-good sentiment enveloped the local bourse with the KLCI notching up 0.57% or 10.09 points amid hefty trading volume which surpassed five billion shares valued at a staggering RM3.7 bil.