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 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.
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| 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.
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