KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
Just this morning, Malaysians were greeted with a good news,
the oil rally of 6% and it already feels like it’s gonna be a good day for the
market.
 |
| FBM KLCI closed marginally higher while Asian stocks dropped |
Well, it did, at least for a start but as at 5pm, FBM KLCI
closed at 1,677.28 points on profit taking after reaching an intraday high at
1,685.88.
In the Asia region, Japan's Nikkei 225 fell 0.37%, South Korea's
Kospi dropped 0.11%, while Hong Kong's Hang Seng down to 0.25%.
The oil rally on Monday that had boosted global equity
markets made a U-turn. US front-month West Texas Intermediate (WTI) crude
futures were trading at US$32.72 per barrel at 0753 GMT, down 67 US cents from
Monday's settlement.
International benchmark Brent was also down 61 US cents at
US$34.08 a barrel.
On Monday, we have seen oil prices jumped to as much as 7%
as there are speculations over the falling US shale output fed the notion that
crude prices may be bottoming after their 20-month collapse.
In Europe, Euro and sterling were hit by uncertainty over Britain's membership of the European Union.
The top gainer was Panasonic Manufacturing Malaysia Bhd while the leading decliners included Nestle (M) Bhd and Cycle & Carriage Bintang Bhd. The most active stock was APFT Bhd.
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