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.
What a day for Bursa...another U-turn at the last minute.
FBM KLCI rose at the 11th hour today to close at 1,724.75 at 5pm. The KLCI erased losses after volatile trades earlier. Looking at Bursa, most of the export counters are being hit badly as the Ringgit seems to have find its footing.
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| FBM KLCI closed higher after reversing losses at the 11th hour |
The ringgit strengthened to 4.0098 against the US dollar on crude oil gains.
The exchange rate had earlier reached its strongest intraday level at 3.9805.
In Asia, Japan’s Nikkei 225 was up 1.94%, while South Korea’s Kospi rose 0.35%. Hong Kong’s Hang Seng fell 0.08%.
Bursa Malaysia saw 2.42 billion shares, valued at RM2.88 billion, traded. There were 396 gainers against 473 decliners.
Hubline was in the top active list today while Scientex and Tenaga both lead the top gainer list. Panasonic Manufacturing (M) Bhd was the top loser for the day.
Reuters reported Asian stocks seesawed on Tuesday, as hawkish comments from U.S. Federal Reserve officials clouded the monetary policy outlook in less than a week after Fed Chair Janet Yellen had set out a more cautious path to interest rate increases this year.
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