KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
The FBM KLCI index lost 4.29 points or 0.26% on Friday to close at 1,658.910. The Finance Index fell 0.20% to 14093.2 points, the Properties Index dropped 0.82% to 1203.42 points and the Plantation Index down 0.12% to 7512.82 points. The market traded within a range of 13.14 points between an intra-day high of 1664.59 and a low of 1651.45 during the session.
The FBM KLCI decline, was in line with the dip at most regional markets and as the local economy grew at its slowest pace since the second quarter of 2013.
Most of the indices on Bursa Malaysia ended the day in red, except for technology and mining, which increased 0.24 points and 8.11 points respectively.
There were 339 gainers, 558 losers and 360 counters traded unchanged across the exchange today. Market breadth saw 2.21 billion shares traded, worth some RM2.14 billion.
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| FBM KLCI downtrend continues |
Most of the indices on Bursa Malaysia ended the day in red, except for technology and mining, which increased 0.24 points and 8.11 points respectively.
There were 339 gainers, 558 losers and 360 counters traded unchanged across the exchange today. Market breadth saw 2.21 billion shares traded, worth some RM2.14 billion.
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| Top 3 Gainers |
Top gainers were led by Fraser & Neave Holdings Bhd, Panasonic Manufacturing Malaysia Berhad and Timedotcom Bhd, with F&N seeing an upside of 48 cents to close at 18.46.
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| Top 3 Losers |
The top 3 losers were British American Tobacco (M) Bhd, Far East Holdings Berhad and Huat Lai Resources Berhad.
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| Top 3 Active |
The most active counter for the day was Instaco, with 103.08 million shares done.
Kenanga Research head of research Chan Ken Yew sees a rebound next week, as the KLCI downside gap has almost been filled.
“Based on the performance today, we do not discount the possibility of a slight rebound next week, if KLCI manage[s] to hold an uptrend support line, just to fill the upside gap of 1,674.7 points to 1,680.8,” he told theedgemarkets.com today.
However, Chan warned there is still a minor downside risk, unless KLCI can overcome the 1,685-point level to gain a sustainable rebound.
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