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Wednesday, March 9, 2016

Market Daily Report: FBM KLCI down for 2nd consecutive days on China's data

The FBM KLCI fell 1.51 points or 0.1% after China's weaker external trade numbers continue to hit Asian shares.

FBM KLCI closed lower at 1,686.35

At 5pm, the KLCI closed at 1,686.35 points after reaching an intraday low of 1,676.93. The market rebounded strongly in the second half of trading.

According to Bloomberg data, China's Shanghai Composite slid 1.34% while Japan's Nikkei 225 lost 0.84%.

Today, Reuters reported that sharp losses in Chinese stocks pulled Asian equities further away from two-month highs on Wednesday as weak trade figures from the world's second-biggest economy and wobbly oil prices revived concerns about global growth.

Across Bursa Malaysia, there were 446 gainers versus 341 decliners. Trading volume was 1.83 billion shares worth RM1.9 billion.

Both AirAsia Bhd and AirAsia X Bhd dominated the top-active list.

P.I.E. Industrial Bhd led gainers while British American Tobacco (M) Bhd was the top decliner.

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