KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
KUALA LUMPUR (April 25): Malaysian stocks closed on a positive note today, in tandem with regional stock markets which finished up as relief took hold on the results of Sunday's election in France.
The FBM KLCI ended the day up 9.75 points or 0.56% at 1,765.80. The market traded between an intra-day high of 1,765.94 and a low of 1,758.47 today.
A total of 3.66 billion shares valued at RM3.113 billion changed hands. Market breadth was positive with 559 gainers, 388 losers and 377 counters traded unchanged on Bursa Malaysia.
"We are catching up with the US and European markets, which have [risen] overnight," Etiqa Insurance and Takaful head of research Chris Eng told theedgemarkets.com.
"The KLCI will continue to outperform the global and regional markets given the delayed effect, but it still depends on the global markets.
"However, we are getting closer to May when profit-taking will become more apparent. I am less positive towards the local market now than I was when it was 100 points lower," he added.
Concentrated buying will continue to weigh on banks, said Eng, with gainers such as Hong Leong Financial Group Bhd and Aeon Credit Service (M) Bhd continuing to be the market movers.
The top gainer was Nestle (Malaysia) Bhd, while British American Tobacco (Malaysia) Bhd led the decliners' list.
Elsewhere, regional markets have responded positively to the victory of market favourite Emmanuel Macron in the first round of the French presidential election, Reuters reported. Japan's Nikkei 225 rose 1.08%, South Korea's Kospi was up 1.06%, while Hong Kong's HSI gained 1.31%.
The ringgit edged higher against the greenback. At 5pm, the local currency gained 0.7% at 4.3685 to the US dollar.
Source: The Edge
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