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Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

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...
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Market Daily Report: FBM KLCI erases losses on late buying of Genting, Maybank and CIMB




KUALA LUMPUR (May 12): The FBM KLCI rose 0.48 point to 1,775.87 points on last minute buying in index-linked Genting Bhd besides banking stocks Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd.

The KLCI erased losses after falling on declines in Petronas Gas Bhd, Petronas Dagangan Bhd and Petronas Chemicals Group Bhd shares. The KLCI rose to its intraday high at 1,778.64 points before falling to its intraday low at 1,773.15 points.

“There was a high selling pressure in index-linked Petronas Chemicals and Genting Malaysia Bhd since the noon market break today. But clearly, the market remains buoyant and flush with liquidity as investors continue to search for hidden gems,” Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.

At 5pm, Genting Bhd shares rose 16 sen to RM9.89, Maybank added seven sen to RM9.38 while CIMB climbed four sen to RM5.95. Genting Bhd was the seventh-largest gainer across Bursa Malaysia.

Bursa Malaysia saw 2.7 billion shares worth RM2.18 billion change hands. Decliners outpaced gainers at 516 versus 424 respectively.

Top decliner Petronas Gas fell 52 sen to RM18.60.

Source: The Edge
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