KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR (May 17): The FBM KLCI fell 2.5 points or 0.1% as Asian shares tracked U.S. stock futures' losses, on concerns about U.S. President Donald Trump's ability to realise the U.S.' economic growth plans.
Reuters reported the S&P 500 mini futures and the dollar tumbled on Wednesday on worries about more U.S. political turmoil, after media reports said Trump asked then-FBI Director James Comey to end a probe into Trump's former national security advisor.
The reports raised questions over whether obstruction of justice charges could be laid against Trump, weakening confidence in the U.S. president's ability to push through an aggressive stimulus programme that investors had been banking on, since his election in November.
In Malaysia today, the KLCI closed at 1,775.65 points at 5pm. Across Asia, Japan’s Nikkei 225 fell 0.53%, Hong Kong’s Hang Seng dropped 0.17%, while South Korea’s Kospi was down 0.1%.
At 5:08pm, S&P 500 mini futures fell 0.52% to 2,384.50.
In Malaysia, JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com that the KLCI fell in line with Asian markets, amid a lack of catalysts for Malaysian markets.
“The decline was in line with regional markets. We expect the market to remain sideways in the near-term, below the 1,785 level,” Lee told theedgemarkets.com.
Bursa Malaysia saw 3.45 billion shares, worth RM2.88 billion traded. Decliners beat gainers at 473 versus 417, respectively.
The top active stock was Priceworth International Bhd, which recorded a trading volume of 282.96 million shares.
Priceworth rose four sen to 29 sen, after the company said its wholly-owned subsidiary Sinora Sdn Bhd would immediately start logging operations within Sabah's Forest Management Unit 5 in Trus Madi, following the state's authorities' approval.
Source: The Edge
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