KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
The good news is that the stocks continue to edge up with S&P 500 closes 1.80 higher to 2,090.57, a record high.
 |
| S&P 500 edge up slightly despite oil price slump and Greece concern |
This happened even as there is a flight to safety triggered by a sell-off in Greek bonds, while crude oil prices tumbled after a short-lived bounce. Stocks in Athens plunged as much as 11.3 percent before closing down 3.9 percent, while yields on 10-year Greek bonds touched their highest since September 2013.
On the other hand, the EURO touched the lowest in nearly 29 months against the U.S. dollar.
As for Dow Jones, there is an average down of 15.48 pts to 18,038.23 while the Nasdaq composite added 0.05 points to 4,806.91.
As for the oil, the slump continues with Brent crude futures fell 2.4 percent to $58 per barrel after hitting a high of $60.43. U.S. crude lost 1.9 percent to $53.72 a barrel.
.png) |
| Crude oil continues to drop |
It is worth to take note that each time the oil market tries to pick itself up, there is another wave of selling. The market concerns on the oversupply will stay for quite a while, even as we move into 2015.
Before the Bursa opens today, it's worth to take note that each time there is a sharp drop in the oil prices, the stock market in Malaysia follow suit. Cautious trading is expected....
Comments
Post a Comment