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Wednesday, September 28, 2016

Market Daily Report: KLCI fell 4.78 pts as Budget Day draws closer



The FBM KLCI fell by 4.78 points or 0.3% as Budget day 2017 draws closer and speculators are looking at a possible early election in the country as well.

The KLCI closed at 1,664.72 points as at closing.

FBM KLCI fell by 4.78 pts as Budget day 2017 draws closer
The market has been heading south throughout the day in general with the benchmark falling to as low as 1,661.58 before recovering towards the closing.

There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement.

Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com.

Unlike Malaysia, Asian shares have shown slight recovery.

Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while UMW Holdings Bhd is at the other end of the table. Sanichi Technology Bhd was the most active counter today.




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