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.
KUALA LUMPUR (April 5): The FBM KLCI fell 2.52 points or 0.1% as institutional investors pulled their money from big market capitalisation (big cap) companies' shares and channeled their funds into small market capitalisation (small cap) counters.
At 5pm, the KLCI closed at 1,744.67 points after falling to its intraday low at 1,741.51 points. The FBM Small Cap Index rose 225 points or 1.3% to 17,532.27 points.
Bursa Malaysia saw 4.44 billion shares valued at RM3.49 billion traded. Gainers outpaced decliners by 612 versus 353 respectively.
“It is a rotational play market. Today, we are seeing the recovery in crude oil prices. Continue to watch small and medium capitalisation stocks.
"The electronic commerce story is to stay and generate excitement and interest,” Hong Leong Investment Bank Bhd," analyst Loui Low Ley Yee told theedgemarkets.com.
The KLCI pared losses on late buying of index-linked Petronas Gas Bhd shares, buoyed by a recovery in crude oil prices. Petronas Gas shares fell six sen to close at RM19.74 after touching its intraday low at RM19.64.
Reuters reported that oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price.
Brent crude futures, the international benchmark for oil, were at US$54.52 per barrel at 0658 GMT, up 35 cents, or 0.65 percent, from their last close. US West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.65 percent, at US$51.35 a barrel.
Source: The Edge
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