KLCI closes at new high on strong buying

If you are a participant in the local share market, the recent positive trend would spell good news. The Kuala Lumpur Composite Index (KLCI) closed at a new high yesterday, putting on 14.71 points, or 1.12%, to 1,322.91 – its highest since Jan 5, 1994, when it closed at 1,314 points.

According to analysts, the rise, in tandem with most bourses worldwide, was spurred on by strong buying of blue chips from local and foreign investors and assuming no untoward incidents from external factors to affect the Malaysian economy, the KLCI could easily go through 1,400 points,” he added.