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Tuesday, March 22, 2016

Market Daily Report: FBM KLCI rises at the 11th hour

What a day for Bursa...another U-turn at the last minute.

FBM KLCI rose at the 11th hour today to close at 1,724.75 at 5pm. The KLCI erased losses after volatile trades earlier. Looking at Bursa, most of the export counters are being hit badly as the Ringgit seems to have find its footing.

FBM KLCI closed higher after reversing losses at the 11th hour

The ringgit strengthened to 4.0098 against the US dollar on crude oil gains.

The exchange rate had earlier reached its strongest intraday level at 3.9805.

In Asia, Japan’s Nikkei 225 was up 1.94%, while South Korea’s Kospi rose 0.35%. Hong Kong’s Hang Seng fell 0.08%.

Bursa Malaysia saw 2.42 billion shares, valued at RM2.88 billion, traded. There were 396 gainers against 473 decliners.

Hubline was in the top active list today while Scientex and Tenaga both lead the top gainer list. Panasonic Manufacturing (M) Bhd was the top loser for the day. 

Reuters reported Asian stocks seesawed on Tuesday, as hawkish comments from U.S. Federal Reserve officials clouded the monetary policy outlook in less than a week after Fed Chair Janet Yellen had set out a more cautious path to interest rate increases this year.

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