KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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