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.
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| FBM KLCI rose 6.22 points |
The celebration of love seems to continue, as the market celebrate post-Valentine's day with an uptrend.
FBM KLCI closed at 1,649.96 points after rising to an intraday high of 1,661.34. This was an increase of 6.22 points or 0.4%. The market basically had a good day as most Asian stock index rose as well.
Japan's Nikkei 225 jumped 7.16%, South Korea's Kospi gained 1.47% while Hong Kong's Hang Seng rose 3.27%.
Some of the positive news are coming through after a losing streak last week, as China's central bank fixed the yuan sharply stronger, easing fears of depreciation for now, though a string of weak data from Japan to China and Indonesia suggested the bounce may be short-lived.
On the broader market, Bursa Malaysia saw a total of 1.54 billion shares worth RM1.54 billion traded. Gainers outnumbered decliners at 497 against 297.
Hubline Bhd was the most-actively traded stock. The leading gainers included United Plantations Bhd and British American Tobacco (M) Bhd.
The bad news persist for Shell Refining Co. though as the company lead the top loser's table today.
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