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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Market Daily Report: KLCI and Ringgit sink as oil falls

FBM KLCI fell 13.11 points
Reuters reported that oil prices slid on Wednesday, extending the sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in US crude stockpiles.

 US crude futures were trading at US$31.25 per barrel at 0758 GMT, down 1.95% from their last settlement. International Brent futures were down around 1% at US$32.90 a barrel. Both dropped more than 5% in intra-day trading the previous day.

The consequence of the fall in oil prices are obvious given what we have seen in the past few months...the market fall as well.

FBM KLCI dropped by 0.8% or 13.11 points to close at 1,664.17. 

Across Asia, Japan's Nikkei 225 lost 0.85% while Hong Kong's Hang Seng shed 1.15%.

 Bursa Malaysia saw 1.53 billion shares valued at RM1.51 billion traded. Decliners beat gainers at 601 versus 229.

 The top gainers included Kuala Lumpur Kepong Bhd and PPB Group Bhd. 

 The leading decliner was Dutch Lady Milk Industries Bhd.

 The most-active stocks included APFT Bhd and KNM Group Bhd.

 Among decliners, Kossan Rubber Industries Bhd fell to an intraday low of RM6.69 before closing unchanged at RM6.75.

 Today, the ringgit weakened to 4.224 against the US dollar, tracking lower crude oil prices.

 The ringgit tracks prices of crude oil as the commodity forms a crucial portion of the Malaysian economy and government revenue.
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