KUALA LUMPUR, Feb 14 (Bernama) -- Bursa Malaysia pared most of its losses to close marginally lower today, supported by late buying in banks after heavy selling in CelcomDigi earlier, amid continued weak market sentiment due to the US trade policies. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased by 0.68 of-a-point to 1,591.60 compared to yesterday’s close of 1,592.28. The market barometer opened 0.63 of-a-point higher at 1,592.91 and moved between an intraday low of 1,587.58 and an intra-day high of 1,595.01. Losers outnumbered gainers 598 to 433, while 445 counters were unchanged, 843 untraded and 22 suspended. Turnover expanded to 3.27 billion units worth RM2.40 billion from 2.56 billion units worth RM2.22 billion on Thursday. Rakuten Trade Sdn Bhd's vice president of equity research Thong Pak Leng said the FBM KLCI remained in consolidation mode, struggling to brea...
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
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