KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA LUMPUR (April 12): The FBM KLCI rebounded today from two days of consecutive losses, as it inched up 0.47% on market close, lifted by gains in oil price and Asian markets.
At 5pm, the benchmark index settled at 1,744.08, up 8.24 points from its previous close, after 4.02 billion shares worth RM2.4 billion were traded.
According to Inter-Pacific Research Sdn Bhd's head of research Pong Teng Siew, the market saw a recovery in the latter part of the day as sentiments improved.
"At the start of the day, the market was pretty volatile and was trading sideways as a result of the overnight US stocks' performance. But as the day progressed, sentiments improved along with the [rest of the] region, and the improvement in oil price. The European market also opened higher, which contributed to the improved sentiments as well," Pong said.
He added that the strong volume registered is also an indicator of investors' interest in the stock market.
Across the region, Hong Kong's Hang Seng Index gained 0.93% and Korea's Kospi grew 0.24%, though Japan's Nikkei 225 slipped 1.04%.
Reuters reported that Japanese stocks fell to their lowest in more than four months on Wednesday as rising geopolitical tensions curbed risk appetite, with exporters badly hit as safe-haven yen spiked to a five-month high.
Back on Bursa Malaysia, the day recorded 427 gainers versus 506 decliners, while 349 counters were unchanged. Malayan United Industries Bhd was the most active counter while Nestle (M) Bhd emerged as the top gainer, as Ajinomoto Malaysia Bhd led the decliners.
Source: The Edge
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