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.
KUALA LUMPUR (Jan 12): The FBM KLCI extended gains today, rising 2.55 points or 0.2%, as the ringgit strengthened slightly against the U.S. dollar.
The KLCI closed at 1,677.76, with gains in counters such as British American Tobacco (M) Bhd and Genting Bhd lending support to the index's advance. The ringgit strengthened to 4.4583 against the U.S. dollar in late afternoon trading, compared with yesterday’s close of 4.4722.
Across Asia, Hong Kong's Hang Seng fell 0.46%; Japan's Nikkei 225 declined 0.58%; while South Korea's Kospi gained 0.58%.
Reuters reported the U.S. dollar nursed widespread losses today, after President-elect Donald Trump's long-awaited news briefing provided scant clarity on future fiscal policies, disappointing bulls wagering on major stimulus.
Yet, neither did Trump mention possible tariffs against Chinese exports — a relief for Asian share markets that have feared the outbreak of a global trade war.
Etiqa Insurance and Takaful Bhd head of research Chris Eng said the KLCI has beefed up as expected, with positive sentiment seen, following the ringgit’s rise against the greenback.
“Ringgit has strengthened slightly. The KLCI is expected to continue trend higher, mildly moving forward," he told theedgemarkets.com via telephone.
A total of 2.54 billion shares, worth RM2.19 billion, were traded on Bursa Malaysia today. Gainers outnumbered decliners by 539 to 298.
BAT was top gainer, while Time dotCom Bhd was the leading decliner.
IFCA MSC Bhd was the most actively-traded stock on continued strong interest. The company had said it is unaware of reasons for the recent sharp rise in its share price and volume, in response to an unusual market query (UMA) by Bursa Malaysia.
Source: The Edge
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