KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia ended lower today, with the benchmark index declining 0.5 per cent, weighed down by selected heavyweights led by Press Metal, IHH Healthcare, and Tenaga Nasional. Press Metal shed 16 sen to RM4.87, IHH Healthcare dipped 14 sen to RM6.75, and TNB slipped 18 sen to RM13.58. These stocks resulted in a 6.12-point decline in the benchmark index. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 7.61 points to 1,518.91 versus Wednesday’s close of 1,526.52. The benchmark index opened 9.22 points lower at 1,517.30 and fluctuated between 1,512.32 and 1,524.41 throughout the day. In the broader market, losers thumped gainers 548 to 357, while 448 counters were unchanged, 994 untraded and eight suspended. Turnover rose to 2.51 billion units valued at RM1.81 billion against Wednesday’s 2.37 billion units valued at RM2.03 billion. ...
US stocks rebounded after a rather bad week.
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| Wall Street Update |
The Standard & Poor’s 500 Index’s still lost slightly for the week, albeit only at less than 1% after the rally yesterday. Statistical data released has shown a higher retail sales. Banks seen a rally of about 4% after JPMorgan Chase & Co.’s Jamie Dimon said he bought more shares in the bank, while Commerzbank AG’s results helped European equities rebound from the lowest level since 2013.
The yield on 10-year Treasuries climbed for the first time in six days. Crude rallied 12 percent from a 12-year low to top $29 a barrel in New York.
The week ended on a slightly positive note for US and European shares, as Commerzbank’s results eased concern that lenders won’t find ways to be profitable amid dwindling interest rates. Dimon’s vote of confidence was echoed by Norway’s sovereign wealth fund, which boosted its stake in Credit Suisse AG.
The positive news couldn't be more timely as crude also delivered its biggest rally in three weeks.
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