KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
Will this ever come to an end? The oil price continues its decline and Dow opens with a drop of 150 points.
The Dow Jones industrial average fell more than 150 points in opening trade.
Shares of Exxon Mobil held about 2 percent lower in pre-market trade after the firm reported a 58 percent drop in profit, hurt by low oil prices. The world's largest publicly traded oil company also said it would cut spending this year by one-quarter, Reuters reported.
Google's latest earnings report is encouraging, helped by a 17 percent rise in advertising revenue. A key advertising metric of aggregate paid clicks increased 31 percent from the previous year, beating consensus expectations of about 22 percent.
The positive earning results have made Alphabet, Google's parent company to be on pace to top Apple as the world's most valuable company.
U.S. crude oil futures were more than 4 percent lower in morning trade, hovering just above $30 a barrel. Concerns about demand and rising supply continued to weigh as hopes for a deal between OPEC and Russia on output cuts fade
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| Wall Street Update |
The Dow Jones industrial average fell more than 150 points in opening trade.
Shares of Exxon Mobil held about 2 percent lower in pre-market trade after the firm reported a 58 percent drop in profit, hurt by low oil prices. The world's largest publicly traded oil company also said it would cut spending this year by one-quarter, Reuters reported.
Google's latest earnings report is encouraging, helped by a 17 percent rise in advertising revenue. A key advertising metric of aggregate paid clicks increased 31 percent from the previous year, beating consensus expectations of about 22 percent.
The positive earning results have made Alphabet, Google's parent company to be on pace to top Apple as the world's most valuable company.
U.S. crude oil futures were more than 4 percent lower in morning trade, hovering just above $30 a barrel. Concerns about demand and rising supply continued to weigh as hopes for a deal between OPEC and Russia on output cuts fade
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