KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
The US market saw a late-session rally yesterday to close higher, helped by an increase in oil prices that helped to reduce investors' fears on banks' vulnerability to the big chunk of debt of the energy companies and their ability to repay their debts.
S&P energy sector saw a gain of 0.9%, trimming its loss in 2016 to 27% after US crude futures went up by about 1%.
Besides the S&P energy sector, there are 8 other major sectors in the index that saw a gain compared to the previous close.
The three major indexes saw a gain towards the end of the day after a day at the negative territory.
The Dow Jones industrial average rose 0.32% to end at 16,484.99 points and the S&P 500 gained 0.44 percent to 1,929.8. The Nasdaq Composite added 0.87 percent to 4,542.61.
Crude prices near 2003 lows have hammered the earnings of U.S. energy companies, exacerbated fears of a slowing global economy and created turbulence on Wall Street that has left the S&P 500 almost 6% weaker since the start of the year.
The gainers on the NYSE outnumbered the decliners by 1,952 to 1,086. On Nasdaq, 1,759 issues rose and 1,003 fell.
About 8.1 billion shares changed hands on U.S. exchanges, below the 9 billion daily average for the past 20 trading days, according to Thomson Reuters data.
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| Wall Street Update |
S&P energy sector saw a gain of 0.9%, trimming its loss in 2016 to 27% after US crude futures went up by about 1%.
Besides the S&P energy sector, there are 8 other major sectors in the index that saw a gain compared to the previous close.
The three major indexes saw a gain towards the end of the day after a day at the negative territory.
The Dow Jones industrial average rose 0.32% to end at 16,484.99 points and the S&P 500 gained 0.44 percent to 1,929.8. The Nasdaq Composite added 0.87 percent to 4,542.61.
Crude prices near 2003 lows have hammered the earnings of U.S. energy companies, exacerbated fears of a slowing global economy and created turbulence on Wall Street that has left the S&P 500 almost 6% weaker since the start of the year.
The gainers on the NYSE outnumbered the decliners by 1,952 to 1,086. On Nasdaq, 1,759 issues rose and 1,003 fell.
About 8.1 billion shares changed hands on U.S. exchanges, below the 9 billion daily average for the past 20 trading days, according to Thomson Reuters data.
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