KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
The US stock market opened higher ahead of the widely anticipated rate hike by the US Federal Reserve, the first of the anticipated three hikes for 2017.
One of the stock market that we have been keeping an eye on is Microsoft since 2014, which continued to move higher along with the broader market, gaining 0.16% to US $64.51, giving it a market capitalization of US $497.7 billion.
The recovery in the stock market was buoyed by the rebound in oil prices.
The Dow Jones Industrial Average rose 0.21% to 20,880.15 while the S&P 500 gained 0.36% to 2,373.98. The Nasdaq Composite added 0.18% to 5,867.125.
One of the stock market that we have been keeping an eye on is Microsoft since 2014, which continued to move higher along with the broader market, gaining 0.16% to US $64.51, giving it a market capitalization of US $497.7 billion.
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