KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
KUALA LUMPUR (Nov 25): The FBM KLCI rose 3.05 points or 0.2% on late buying of index-linked plantation shares like Kuala Lumpur Kepong Bhd (KLK) and Sime Darby Bhd as the ringgit weakened to a new one-year level against the US dollar.
Plantation shares could have taken the cue from a weaker ringgit, which bodes well for Malaysian crude palm oil (CPO) exports and prices. The ringgit depreciated to its new one-year level at 4.4690 against the US dollar today on expectation of a US interest rate hike next month.
"Plantation counters' performance is better than other sectors as CPO prices climbed to more than RM3,000 a tonne," Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com.
At 5pm, the KLCI ended at 1,627.26 points. KLK shares climbed 36 sen to RM24.10 to become Bursa Malaysia's second-largest gainer while Sime Darby rose six sen to RM8.10.
Reuters reported that Malaysian palm oil futures continued their uptrend, rising 0.73% in first-half trade on Friday, and were headed for a fifth consecutive session of gains due to a weak ringgit and declining output.
It was reported that benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange were up 0.73% at RM3,026 (US$678.48) a tonne at the midday break.
At 5pm, Bursa Malaysia saw 402 decliners versus 347 advancers. A total of 1.28 billion shares valued at RM1.24 billion changed hands.
Among major decliners, OldTown Bhd shares fell 15 sen to RM1.87 after the Securities Commission excluded OldTown from the regulator's Shariah-compliant securities list.
Source: The Edge

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