KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Aug 9): The FBM KLCI declined 3.71 points or 0.2% as the US-North Korea geopolitical tension rattled Asian share markets.
At 5pm, the KLCI closed at 1,777.94 points. Across Asia, Japan’s Nikkei 225 dropped 1.29%, South Korea's Kospi fell 1.1%, while Hong Kong’s Hang Seng declined 0.35%.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com: “Today’s weakness is mainly due to profit-taking, as well as the rising geopolitical tension recently seen between the US and North Korea, which in turn impacted investor sentiment, locally and regionally, today.”
Across Bursa Malaysia, 1.42 billion shares valued at RM1.74 billion exchanged hands. Decliners outpaced gainers at 414 against 315 respectively, as global investors followed news on the US-North Korea geopolitical tension.
Reuters reported Asian shares and U.S. stock futures slipped on Wednesday and investors sought havens such as U.S. Treasuries, gold and the yen, as tensions on the Korean peninsula escalated, with Pyongyang saying it is considering plans to attack Guam.
A spokesman for the Korean People's Army said in a statement that it was "carefully examining" plans for a missile attack on the U.S. Pacific territory, which has a large American military base. The comments came just hours after U.S. President Donald Trump told North Korea that any threat to the United States would be met with "fire and fury", rattling markets globally.
Source: The Edge
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