KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
As crude oil slids further down to a new low since May 2009, the FBM KLCI follow suits with a drop of 1.15%.
As at time of writing of this post, the Brent crude oil was at US$51.57 a barrel while US crude oil was at US$48.81.
The FBM KLCI closed at 1,716.580 pts, a drop of 20.04 pts or 1.15%. With the oil price slump continued, analysts are not being too optimistic. TA Research chartist Stephen Soo told theedgemarkets.com that he did not see the market rebounding over the immediate term, and that it was possible the market could test new lows this year.
For the Top 10 Active, Top 10 Gainers and Top 10 Losers, you may find as below:
 |
| Iris leads the Top active counter for the day |
 |
| United Plantation Bhd, DKSH Bhd, Ibraco Bhd and Muda Holdings Bhd are among the top 10 gainers today |
 |
| The decliners were lead by British American Tobacco (BAT), Syarikat Takaful Malaysia Bhd |
Regionally, market is also on a downtrend as oil price slump continued to present a negative and volatile environment....with Hong Kong's Hang Seng slipped 0.99%, Japan's Nikkei 225 was down 3.02%, while the Singapore's Straits Times Index shed 1.39%.
Comments
Post a Comment