KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
It has been a rather frustrating week for Bursa Malaysia...the negative sentiments of the lower oil prices, weaker Ringgit has been very bad for FBM KLCI.
It was a great relief as the benchmark open with a slight drop.
The rebound is most likely due to the oversold in previous days.
Of course, many are still wary of the market and predict that the downtrend might continue with the oil price continued to be under pressure.
It is also important to take note of the weaker ringgit against the USD, at 3.4698.
On the other hand, most of the Asian counters rose slightly. China’s Shanghai Composite gained 1.32% while Hong Kong’s Hang Seng Index advanced 0.71%.
Here are the top gainers and top losers:
But there was some improvement today as the stock market close at 1749.37 points (+3.68 points/0.21% higher).
It was a great relief as the benchmark open with a slight drop.
The rebound is most likely due to the oversold in previous days.
Of course, many are still wary of the market and predict that the downtrend might continue with the oil price continued to be under pressure.
It is also important to take note of the weaker ringgit against the USD, at 3.4698.
On the other hand, most of the Asian counters rose slightly. China’s Shanghai Composite gained 1.32% while Hong Kong’s Hang Seng Index advanced 0.71%.
Here are the top gainers and top losers:
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| Top Gainers |
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| Top Losers |
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