KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
The FBM KLCI lost 0.18% or 2.97 points on Friday as the U.S. dollar sprinted to a more than 13-year high, on expectations President-elect Donald Trump's policies will boost the American economy, according to report from theedgemarkets.com.
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The benchmark index lost 2.97 points or 0.18% on Friday at 1,623.80. The Finance Index fell 0.15% to 14117.02 points, the Properties Index up 0.35% to 1167.51 points and the Plantation Index down 0.33% to 7768.48 points.
The market traded within a range of 8.82 points between an intra-day high of 1626.52 and a low of 1617.70 during the session.
According to theedgemarkets, Etiqa Insurance and Takaful Bhd head of research Chris Eng Poh Yoon said the KLCI continued to demonstrate weakness beyond its regional peers, on the weak ringgit effect.
“We continue to advocate nibbling good blue chips in the market,” he told theedgemarkets.com.
Across Bursa Malaysia, 1.39 billion shares worth RM1.51 billion exchanged hands. There were 356 gainers versus 402 decliners.
British American Tobacco (M) Bhd and Petronas Dagangan Bhd were among top gainers. Leading decliner was United Plantations Bhd. The most active stock was APFT Bhd.
Reuters also reported that the U.S. presidential election prompted investors to ditch their once rock-solid conviction that growth in developed economies will remain tepid, because of tough competition from emerging economies that have lower wages.
In Asia, Japan’s Nikkei 225 gained 0.59%, while Hong Kong’s Hang Seng Index was up 0.37%.
The benchmark index lost 2.97 points or 0.18% on Friday at 1,623.80. The Finance Index fell 0.15% to 14117.02 points, the Properties Index up 0.35% to 1167.51 points and the Plantation Index down 0.33% to 7768.48 points.
The market traded within a range of 8.82 points between an intra-day high of 1626.52 and a low of 1617.70 during the session.
According to theedgemarkets, Etiqa Insurance and Takaful Bhd head of research Chris Eng Poh Yoon said the KLCI continued to demonstrate weakness beyond its regional peers, on the weak ringgit effect.
“We continue to advocate nibbling good blue chips in the market,” he told theedgemarkets.com.
Across Bursa Malaysia, 1.39 billion shares worth RM1.51 billion exchanged hands. There were 356 gainers versus 402 decliners.
British American Tobacco (M) Bhd and Petronas Dagangan Bhd were among top gainers. Leading decliner was United Plantations Bhd. The most active stock was APFT Bhd.
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| APFT was the top active on Friday (Nov 18) |
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| BAT was the top gainer on Friday (Nov 18) |
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| UTDPLT was the top loser on Friday (Nov 18) |
Reuters also reported that the U.S. presidential election prompted investors to ditch their once rock-solid conviction that growth in developed economies will remain tepid, because of tough competition from emerging economies that have lower wages.
In Asia, Japan’s Nikkei 225 gained 0.59%, while Hong Kong’s Hang Seng Index was up 0.37%.
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