KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
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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