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Thursday, June 8, 2017

Market Daily Report: KLCI ends flat amid external uncertainties






KUALA LUMPUR (June 8): The FBM KLCI closed 0.35 point or 0.02% lower at 1,785.57, as investors keep an eye on global events, including the UK elections, the upcoming testimony by former FBI director James Comey and the developments in the Middle East.

Public Investment Bank Bhd head of research Ching Weng Jin said market participants are taking a wait-and-see attitude, amid the various global uncertainties.

“Investors are not taking any risks amid the UK elections, Comey’s testimony in the US and the diplomatic row in the Middle East. With all these external uncertainties, people are not willing to take any chances,” he said.

Ching noted the low volume of trades today, but said these external factors should not significantly impact the local market.

Across the board, some 1.95 billion shares, worth RM2.15 billion, were traded. Decliners beat gainers at 459 versus 419, while 389 counters were unchanged.

United Plantations Bhd led decliners, while Hartalega Holdings Bhd was top gainer. The top actively-traded counter was AT Systematization Bhd.

Elsewhere in Asia, Hong Kong’s Hang Seng rose 0.34%, South Korea’s Kospi gained 0.15%, while Japan’s Nikkei fell 0.38%.

Reuters reported Asian shares wobbled today, as investors braced for surprises from the UK election, a European Central Bank policy meeting and Comey’s testimony.

MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, though China edged up on unexpectedly solid trade data.



Source: The Edge

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