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...
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| FBM KLCI fell 13.11 points |
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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