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 (Aug 21): The FBM KLCI dipped 4.6 points or 0.3% to close at its intraday low
on late selling of Westports Holdings Bhd shares and as investors remained concerned about President Donald Trump's ability to push through his growth-focused economic agenda.
At 5pm, the KLCI closed at 1,771.62 points. KLCI-linked Westports shares fell 13 sen to RM3.62 to become Bursa Malaysia's fifth-largest decliner.
“It’s clear that the better than expected growth in (Malaysia's) gross domestic product (GDP announced) last Friday is not really helping as (share) trade is mostly cautious,” TA Securities Holdings Bhd technical analyst Stephen Soo said.
Soo said worries that Trump would fail to push through his growth-focused economic agenda had overridden Malaysia's economic growth figures.
Across Bursa Malaysia, decliners outpaced gainers at 418 to 366 respectively. A total of 1.68 billion shares were traded for RM1.78 billion.
Malaysian shares fell with Asian equities. Japan’s Nikkei 225 fell 0.4% while South Korea's Kospi was down 0.14%.
Reuters reported that Asian shares were fragile on Monday as investors remained unconvinced about Trump's ability to fulfill his economic agenda, even as the departure of his controversial policy strategist raised hopes of some progress.
It was reported that investors were also wary of any flare-up of tensions between North Korea and the US as US troops and South Korean forces started a joint exercise on Monday.
Source: The Edge
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