KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (Feb 10): The FBM KLCI rose 10.44 points or 0.62% to 1698.94 today, boosted by strong overnight gains on Wall Street and China’s positive January trade figures.
The broader market was also higher with 542 gainers as against 338 losers. Total turnover was 2.69 billion shares, valued at RM2.42 billion.
Top gainers included Nestle (M) Bhd, British American Tobacco (M) Bhd and Malaysian Pacific Industries Bhd. The leading losers included United Plantations Bhd, Petronas Gas Bhd and Far East Holdings Bhd.
“We are looking at good figures on the FBM KLCI today,” said TA Securities Holdings Bhd senior technical analyst Stephen Soo.
“Wall Street’s performance, which was triggered by (U.S. President Donald) Trump’s announcement of plans to lower taxes on American businesses, was definitely a catalyst of this uptrend,” Soo told theedgemarkets.com over the phone.
He said China’s trade data was another factor for the bullish market sentiment. According to the data, the country’s imports from the U.S. climbed 23.4% in January (the best record ever posted in a year), whereas exports — led by electronics — rose 7.9%, after 2016 shipments dipped almost 8%.
“It can be well said that the FBM KLCI’s performance today is driven by external and globally-led rallies. Investors are beginning to break out of the ‘psychological resistance’,” said Soo.
Reuters reported Asian shares reached an 18-month peak, on the back of better investor confidence, following Chinese trade data and gains on the Wall Street.
Japan’s Nikkei 225 inched up 2.49%, Hong Kong’s Hang Seng Index rose 0.21%, and South Korea’s Composite Stock Price Index dipped 0.45%.
Source: The Edge
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