KUALA LUMPUR: Asian markets extended their rally on Wednesday while Bursa Malaysia held on to most of the early gains following positive news about the US government’s massive economic stimulus bill to cushion the impact of the Covid-19 coronavirus.
At 5pm, the FBM KLCI was up 32.81 points or 2.54% to 1,323,95. Turnover surged to 4.33 billion shares valued at RM2.83bil. Advancers beat decliners 641 to 267 while 356 counters were unchanged.
Bursa gave up some early gains when it opened for the afternoon session after the government extended the movement control order (MCO) for another two weeks until April 14.
However, it managed to regain its footing towards the later part of trading as investor sentiment was shored up by the proposed US$2bil stimulus plan.
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