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.
Standard & Poor's 500 Index turns positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November.
The S&P 500 followed the Dow Jones Industrial Average to advance for the year, after a poor start to the year, with The Dow jumping by 12% in 24 days through Thursday, boosted by seven separate daily advances exceeding 1%. It's amazing given that 2016 has started with one of the worst performance so far but a stunning comeback with stocks pushing over the top as US Fed signaled a slower pace of interest-rate increase this week.
The S&P 500 added 0.4% to 2,049 and is now up 0.3% this year after falling as much as 11%.
According to a report from Bloomberg, Friday’s gains were braced by health-care companies, with the group on the way to ending the longest losing streak in two months. Banks were on pace to halt a three-day slide after also lagging a broader rally in the past two weeks.
The Dow average Thursday wiped out a year-to-date decline that swelled to as much as 10% in February. It’s the fastest that a retreat of that size or more has ever been reversed this early in a year, data compiled by Bloomberg show.
The S&P 500 has climbed 1.3% this week, and is less than 4% away from a record set last May.
Energy and raw-materials have led the S&P 500 over the last five weeks.
A tumble in the dollar Thursday brought on by a more dovish Fed helped push the two groups to three-month highs yesterday.
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| One of the greatest comeback in the history |
The S&P 500 added 0.4% to 2,049 and is now up 0.3% this year after falling as much as 11%.
According to a report from Bloomberg, Friday’s gains were braced by health-care companies, with the group on the way to ending the longest losing streak in two months. Banks were on pace to halt a three-day slide after also lagging a broader rally in the past two weeks.
The Dow average Thursday wiped out a year-to-date decline that swelled to as much as 10% in February. It’s the fastest that a retreat of that size or more has ever been reversed this early in a year, data compiled by Bloomberg show.
The S&P 500 has climbed 1.3% this week, and is less than 4% away from a record set last May.
Energy and raw-materials have led the S&P 500 over the last five weeks.
A tumble in the dollar Thursday brought on by a more dovish Fed helped push the two groups to three-month highs yesterday.
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