KUALA LUMPUR, Jan 9 (Bernama) -- Bursa Malaysia concluded the week on a stronger note, with the benchmark index reaching a more than six-year high due to continued buying of blue-chip stocks, aligning with the performance of stronger regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 16.97 points or 1.02 per cent to end at an intraday high of 1,686.54 from Thursday’s close of 1,669.57. A similar level was seen at 1,686.95 on March 7, 2019. The benchmark had opened 0.87 points higher at 1,670.44 and hit an intraday low of 1,670.28 earlier. On the broader market, gainers trounced losers by 616 to 469, while 581 counters were unchanged, 983 untraded, and 24 suspended. Turnover was higher at 2.83 billion units worth RM2.75 billion from Thursday’s 2.79 billion units worth RM2.84 billion.
KUALA LUMPUR (Jan 18): The FBM KLCI rose 1.99 points or 0.1% while the ringgit strengthened, after U.S. President-elect Donald Trump said the U.S. dollar's strength against the yuan did not bode well for the U.S. economy.
The KLCI closed at 1,665.02 points, as Asian share markets rose. Japan's Nikkei 225 increased 0.43%, while Hong Kong's Hang Seng rose 1.13%.
In Malaysia, Malacca Securities Sdn Bhd analyst Kenneth Leong told theedgemarkets.com that the KLCI's rise was due to the stronger ringgit against the U.S. dollar today. At 4:48pm, the ringgit strengthened to 4.4443 against the U.S. dollar.
“The KLCI is also up in tandem with regional markets," Leong said.
Bursa Malaysia saw 1.88 billion shares, worth RM1.64 billion traded. There were 431 gainers and 366 decliners.
World markets took the cue from Trump's U.S. dollar comment. Reuters reported the dollar's recent weakness deepened, after Trump said the greenback's strength against the Chinese yuan "is killing us".
It was reported Asian stock markets stabilised near three-month highs on Wednesday, helped by Hong Kong and Chinese shares, as investors judged Trump's concerns over a stronger dollar to be beneficial to some of the regional bourses.

Comments
Post a Comment