KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (April 4): The FBM KLCI rose 1.7 points or 0.1% on late buying of index-linked Kuala Lumpur Kepong Bhd (KLK) shares.
The KLCI erased losses in the final trading minutes after falling with Asian shares following overnight US equity losses.
At 5pm today, the KLCI settled at 1,747.19 points after falling to its intraday low at 1,742.85 points. KLK shares rose 22 sen to RM24.92 to become Bursa Malaysia's sixth-largest gainer.
Across Bursa Malaysia, 3.97 billion shares valued at RM2.87 billion were traded. Gainers outpaced decliners by 533 versus 384 respectively.
Payment-solutions specialist GHL Systems Bhd shares added 34 sen to RM1.48 to become Bursa Malaysia's eighth most-active stock and second-largest gainer.
Hong Leong Investment Bank Bhd analyst Loui Low Ley Yee told theedgemarkets.com: “Technology and electronic commerce-related stocks are the theme now. We keep seeing increasing interest in small-capitalisation counters, especially those that are on the ACE Market.”
Asian shares fell. Japan’s Nikkei 225 ended 0.91% lower while South Korea's Kospi fell 0.3%. China markets were closed today for the Ching Ming Festival.
In overnight US share trades, the Dow Jones Industrial Average declined 0.14% while S&P 500 and Nasdaq Composite each fell 0.26%.
Reuters reported that Asian shares inched lower on Tuesday as caution reigned ahead of a potentially tense meeting between US President Donald Trump and his Chinese counterpart Xi Jinping later this week.
Wall Street fell on Monday as investor worries intensified about the Trump administration's struggles to deliver on its pro-business policies a few weeks before the first-quarter earnings season.
Source: The Edge
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