KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
KUALA LUMPUR (July 27): The FBM KLCI rose 4.07 points or 0.2% with Asian shares after the US Federal Reserve left interest rates unchanged.
A 5pm, the KLCI closed at 1,770.07 points The KLCI traded between its intraday high and low at 1,772.03 and 1,765.84 points respectively.
“The higher movement is in line with the rest of Asia after the Federal Reserve's decision,” Mercury Securities Sdn Bhd research head Edmund Tham told theedgemarkets.com.
Across Asian share markets, Japan’s Nikkei 225 rose 0.15% while Hong Kong’s Hang Seng gained 0.71%. South Korea’s Kospi increased 0.36%.
Reuters reported that stocks, bonds and commodities were all on a roll on Thursday as bulls scented a softening in the Federal Reserve's confidence on inflation that promised to keep US interest rates low for longer.
The Federal Reserve kept its benchmark lending rate in a target range of one percent to 1.25 percent, as expected, and said it was on track to continue the slow path of monetary tightening that has lifted rates by a percentage point since 2015.
At Bursa Malaysia today, 1.59 billion shares worth RM1.97 billion were traded. There were 400 gainers and 381 decliners.
CIMB Group Holdings Bhd was a notable stock today. CIMB shares rose 19 sen to close at RM6.59 to become Bursa Malaysia's sixth-largest gainer.
CIMB, which was also the sixth most-active stock, saw some 25 million shares traded.
Source: The Edge
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