KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
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:
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| Iris leads the Top active counter for the day |
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| United Plantation Bhd, DKSH Bhd, Ibraco Bhd and Muda Holdings Bhd are among the top 10 gainers today |
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| 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%.
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