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.
The FBM KLCI fell by 4.78 points or 0.3% as Budget day 2017 draws closer and speculators are looking at a possible early election in the country as well.
The KLCI closed at 1,664.72 points as at closing.
The market has been heading south throughout the day in general with the benchmark falling to as low as 1,661.58 before recovering towards the closing.
There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement.
Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com.
Unlike Malaysia, Asian shares have shown slight recovery.
Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while UMW Holdings Bhd is at the other end of the table. Sanichi Technology Bhd was the most active counter today.
The KLCI closed at 1,664.72 points as at closing.
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| FBM KLCI fell by 4.78 pts as Budget day 2017 draws closer |
There have been speculation that the upcoming budget 2017 in the country will be an election budget, creating anxieties and uncertainties on the initiatives that the government could implement.
Analysts and fund managers are expecting the market to be fluctuating in the short and mid-term according to the report by theedgemarkets.com.
Unlike Malaysia, Asian shares have shown slight recovery.
Bursa Malaysia saw a rather low volume today with 1.49 billion shares traded, worth about RM1.85 billion. British American Tobacco (M) Bhd lead the gainers today while UMW Holdings Bhd is at the other end of the table. Sanichi Technology Bhd was the most active counter today.
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