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Published: Wednesday February 29, 2012 MYT 10:09:00 AM
Updated: Wednesday February 29, 2012 MYT 6:21:49 PM

FBM KLCI ends Wednesday higher


KUALA LUMPUR: The FBM KLCI ends Wednesday higher by 0.83% or 12.92 points to 1569.65, backed by buying of key blue chips.

"There is a chance for our Malaysian bourse to leap forward today in playing catch-up with its regional peers which mostly ended higher yesterday.

"The benchmark index could pull away from the first support line of 1,555 ahead," HwangDBS told its clients in its morning note. Major equity indexes in the US rose between 0.2% and 0.7% overnight amid hopes that the European Central Bank long-term refinancing operation (LTRO) scheduled this afternoon would inject more liquidity into the monetary system, thus easing the banks' funding strains, said the research house. All key Asian markets were also up by at least 0.5% each, at the end of today.

Nymex crude oil added 65 cents to US$106.61 per barrel.

Spot gold added $1.18 to US$1,785.45 per ounce.

The ringgit was quoted at 2.9975 to the US dollar.

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