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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’s gain cut while Asian region dropped as oil’s rally reversed

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.

Bursa Malaysia saw 1.91 billion shares valued at RM1.8 billion traded. Gainers outpaced decliners at 438 against 417.
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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