KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
Stocks closed near the flatline Tuesday after a choppy trading session as U.S. oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen's testimony.
The Dow fell nearly 150 points shortly after the open but briefly turned positive. The blue chips index briefly rose 100 points in late-afternoon trading, with Home Depot contributing the most gains.
The S&P 500 dropped nearly 1 percent at the open before briefly turning positive. The index held lower for most of the afternoon but briefly tried for gains as energy traded off its session lows.
The Dow fell nearly 150 points shortly after the open but briefly turned positive. The blue chips index briefly rose 100 points in late-afternoon trading, with Home Depot contributing the most gains.
The S&P 500 dropped nearly 1 percent at the open before briefly turning positive. The index held lower for most of the afternoon but briefly tried for gains as energy traded off its session lows.
The Nasdaq composite seesawed, opening down more than 1 percent, before reversing losses and gaining about 1 percent. In afternoon trading, however, the index fell more than 1 percent before trying for gains.
Investors also kept an eye on oil prices Tuesday. WTI futures plunged 5.89 percent, or $1.75, to trade at $27.94 a barrel in choppy trading. Earlier, the International Energy Agency said that demand for oil will "ease back considerably" in 2016. U.S. crude, however, pared losses slightly in after-hours, holding above $28.
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