KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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| FBM KLCI closed 2.02 points higher |
If you have been following the Bursa Malaysia, you would probably be disappointed almost the entire day until the closing. The FBM KLCI was basically heading south the entire day before it turns green during the closing period.
FBM KLCI rose 2.02 points or 0.1% after China's state margin lender resumed short-term loans and reduced borrowing cost for brokerages.
Investors take margin loans to invest in shares or funds.
At 5pm, the KLCI closed at 1,718.36 points. The index erased losses at the 11th hour, after falling to an intraday low at 1,707.11.
In China, the Shanghai Composite rose 2.15%, while Hong Kong's Hang Seng added 0.06%. Japanese share markets were closed for a public holiday.
Reuters reported that China financial stocks such as brokerages led indexes higher, with the CSI300 financial sub-index gaining 3.3%.
On Bursa Malaysia, 2.01 billion shares, worth RM2.05 billion, exchanged hands. Gainers outnumbered decliners at 442 to 436.
Top gainer was Nestle (M) Bhd, while Petronas Gas Bhd was the biggest decliner. Hubline was the most actively-traded stock.
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