KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
As mentioned in the morning post on the oil prices plunge, the FBM KLCI continue the downtrend.
 |
| The downtrend continues |
Most shares traded lower at the end of today, as the poor sentiments surrounding around the O&G counter spread to other sectors as well. OPEC's decision not to cut output to stem the falling crude oil prices crushes any hope of a quick rebound for the crude oil prices.
In fact, it's hard to even try to predict the bottom of it at this point of time.
The FBM KLCI fell 0.5% today, to close the week at 1,820.89 points at market close. However on a week-on-week basis, the KLCI ended the week 11.76 points or 0.65% higher, compared to last Friday’s closing of 1,809.13 points.
The OPEC's decision might just force the downtrend to continue for a while....as Reuters reported that oil prices, oil-related shares and oil-linked currencies all tumbled in Asia on Friday.
The huge supply of oil could hurt country like Malaysia and Russia.
Regionally though, markets were mixed with Hong Kong's Hap Seng and South Korea's Kospi both ending lower while Japan's Nikkei rose 1.23%.
You may check out the fundamentals of some of these stocks that are under the TOP 10 GAINERS and TOP 10 LOSERS today:
 |
| Top 10 GAINERS |
 |
| TOP 10 LOSERS |
Comments
Post a Comment