KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
The FBM KLCI index gained 4.13 points or 0.25% on Monday.
The Finance Index increased 0.42% to 14149.89 points, the Properties Index up 0.27% to 1194.87 points and the Plantation Index rose 0.38% to 7458.45 points.
The market traded within a range of 7.37 points between an intra-day high of 1675.96 and a low of 1668.59 during the session.
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| FBM KLCI gained 4.13 points |
The increase was mainly due to higher crude palm oil (CPO) prices.
Export-oriented counters such as glove counters were performing quite well today.
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| Top active for the day |
The most actively-traded counter was XOX Bhd while the leading decliner was British American Tobacco (M) Bhd.
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| The leading decliner was British American Tobacco (M) Bhd |
Bursa Malaysia's top gainer is Top Glove Corp Bhd.
Across Asia, Japan's Nikkei 225 rose 0.99%, while South Korea's Kospi closed 0.54% lower. Hong Kong's Hang Seng fell 0.15%.
Reuters reported Asian share markets turned mixed on Monday, as caution grew ahead of Chinese data, though sentiment stayed, supported by hopes the US economy would be able to handle an expected first increase in interest rates in almost a decade.
U.S. crude futures for front-month delivery fell below US$40 per barrel on Monday, after the Organization of Petroleum Exporting Countries (OPEC) failed last week to agree on output targets to reduce a bulging oil glut that has cut prices by over 60% since 2014.
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