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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

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...
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Market Daily Report: KLCI gains with Japan shares




KUALA LUMPUR (Jan 4): The FBM KLCI rose 11.94 points or 0.7% as Japan shares rose substantially on a weaker yen.

At Bursa Malaysia, the KLCI settled at 1,647.47 points on gains in stocks like Sime Darby Bhd and Petronas Chemicals Group Bhd. Bursa Malaysia saw 1.98 billion shares, worth RM1.65 billion traded.

Japan's Nikkei 225 rose 2.51% as a weaker yen led to expectation of higher earnings for exporters. Reuters reported Japan's Nikkei share average started 2017 trading on a strong note on Wednesday, as investors cheered upbeat global economic data released during Japan's holidays, and a weaker yen boosted exporters.

In Malaysia, Malacca Securities Sdn Bhd senior research executive Kenneth Leong told theedgemarkets.com that the KLCI's movement today was in line with key regional indices.
Leong said "there is still upside in the KLCI, premised on higher crude palm oil (CPO) and crude oil prices”.

Such CPO price sentiment followed the ringgit's depreciation today to a fresh one-year level against the U.S. dollar at 4.5002. At 5:27pm, the ringgit was traded at 4.4975 against the U.S. dollar.
A weaker ringgit makes Malaysian CPO more competitive in world markets, hence anticipation of higher demand for the commodity.


Source: The Edge
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