On a Friday-to-Friday basis, the index rose 39.19 points to end at 1,591.84. — Reuters pic
The benchmark index closed at 1,591.84 anchored by strong buying interest in banking and rubber glove stocks this week, making it among the best performing indices in the region, he told Bernama. “Despite trading in overbought territory, the FBM KLCI Index still has some room to go with the next resistance pegged between 1,615 and 1,635.Bank Negara Malaysia on Tuesday announced a reduction in the Overnight Policy Rate by another 25 basis points to 1.75 per cent, a record low since the floor was set in 2004.
He added that investors should be on the lookout for some jitters in the US market which could spark profit taking. Sector-wise, the Plantation Index increased 47.73 points to 6,861.08, the Financial Services Index advanced 468.59 points to 13,546.64 but the Industrial Products and Services Index eased 1.10 points to 139.07
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