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On Monday morning at 9am, as trading started on the local bourse, the FBM KLCI blew through the roof - surging 132 points to hit an all-time high of 1826.22 points in intraday trading.

Although the initial euphoria faded, the benchmark index closed at an all-time high of 1752.02 points, gaining 57.25 points.

On Tuesday, the FBM KLCI gained an additional 21.25 points to close at 1773.27 points.

Today, however, the CI lost some of its legs closing at 1774 points, slipping 2.73 points.

The surge on Monday caught most by surprise.

“Truth be told, no domestic funds were in it (the run on Monday), they (the local funds) were staring at the screen not knowing what to do... The buying is foreign,” a head of research from a local brokerage said.

On Monday, the top gainers were government-linked companies UEM Land Holdings Bhd and CIMB Group Holdings Bhd - registering gains of 12.88 percent to RM2.98, and 9.72 percent to RM8.35 respectively, while Genting Bhd was up 6.71 percent to RM10.66.

Other notable gainers were Tenaga Nasional Bhd, Felda Global Ventures Holdings Bhd, Genting Malaysia Bhd, Maxis Bhd, IHH Healthcare Bhd, Kuala Lumpur Kepong Bhd and Petronas Dagangan Bhd, to name a few.

As for the question as to how long will the rally last, opinions are divided.

Go to KiniBiz for more .

 

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