KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (April 10): Malaysian stocks ended marginally lower today, in tandem with the slide in most Asian stock markets on geopolitical tensions from the US to the Middle East and the Korean peninsula.
The FBM KLCI slipped 0.13% or 2.20 points to close at 1,739.52 points as attention shifted towards the small and mid-cap players, while the broader FBM Emas index edged 0.02% higher and the FBM ACE index gained 0.83%.
Trading volume decreased to 3.66 billion shares worth RM2.1 billion compared with Friday’s 5.22 billion shares worth RM3.39 billion. There were 430 gainer with 468 decliners, while 381 counters were unchanged.
Penny counters dominate with top active counters with Key Alliance Group Bhd the most heavily traded, while HCK Capital Group Bhd was the top gainer. Leading the decliners was Tasek Corp Bhd and Kuala Lumpur Kepong Bhd.
According to Etiqa Insurance & Takaful head of research Chris Eng, the momentum was shifted to the small cap and consumer sectors.
“If you look at the benchmark index, the decline was in line with the region. While the region was down slightly on Friday, the KLCI maintained an upside," he told theedgemarkets.com.
"Generally, there has been some cautious tone as the market was slightly bespoke by US' missile attacks on Syria, but the downside has been limited with the positive development of US-China relationship following US President Donald Trump's and China's president Xi Jinping’s meet-up,” Eng said.
Across the region, Japan’s Nikkei 225 gained 0.71%, while Hong Kong’s Hang Seng slipped by 0.02% and South Korea’s Kospi was down 0.86%.
Reuters reported that Japan’s Nikkei share was up on weak yen, bolstering exporter stocks while rising US yields helped financial stocks outperform.
Source: The Edge
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