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.
The FBM KLCI continued the downtrend this week to close at 1744.57.
In comparison to last Friday (05 Dec 2014), the FBM KLCI was at 1749.30. There is still a slight drop in the market as oil price continue to decline.
Bursa Malaysia's top decliners are still the oil & gas related stocks like Petronas Dagangan Bhd and Petronas Gas Bhd.
It is obvious that the market is taking cue from how the movement of oil price is at the moment. The market is still very volatile and it's difficult to foresee how the movement of the stock will go at the moment, but if the oil price were to continue in this decline, it's pretty obvious that's where the stock market will be heading as well.
Across Bursa, there are 629 decliners with only 178 gainers.
Expect the market to remain volatile in this coming few days
Comments
Post a Comment