KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
The FBM KLCI rose 9.01 points or 0.54% today, mainly on Tenaga Nasional Bhd share gains, amid speculation 1Malaysia Development Bhd (1MDB) may sell its power assets to foreign bidders.
1MDB's power assets are parked under Edra Global Energy Bhd.
Analysts and fund managers said Tenaga gained as investors could have perceived such updates as good news for Tenaga, amid concerns Tenaga might overpay for state-owned 1MDB's power assets to bailout the company.
The Finance Index increased 0.40% to 14135.16 points, the Properties Index dropped 0.10% to 1197.08 points and the Plantation Index rose 0.06% to 7502.73 points. The market traded within a range of 12.33 points between an intra-day high of 1673.92 and a low of 1661.59 during the session.
 |
| FBM KLCI gained 0.54% as of closing for today |
Tenaga added 30 sen or 2.3% to RM13.42, to become Bursa Malaysia's fifth-largest gainer.
Actively traded stocks include GENETEC, BORNOIL-WC, INSTACO, GLOTEC, HUBLINE, NEXGRAM, BORNOIL, PUC, PESONA and CONNECT. Trading volume decreased to 2949.13 mil shares worth RM1932.04 mil as compared to Friday’s 2965.92 mil shares worth RM1956.37 mil.
Leading movers were PETDAG, with a gain of 80 cents.
The top decliners included Panasonic Manufacturing Malaysia Bhd and United Plantations Bhd.
Across Asian share markets today, Hong Kong’s Hang Seng fell 0.39%, while South Korea’s Kospi gained 0.7%. Japan markets were closed for holiday.
Comments
Post a Comment