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...
At 5pm, the KLCI settled at 1,774.22 points. Investors bargain hunted for local shares after the index fell 4.6 points to 1,771.62 points yesterday.
Today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com : “Overall market sentiment is still mixed, but the [KLCI] likely recouped its losses from yesterday due to its reaction to the earnings season.”
Malaysia's April-June quarter corporate financial-reporting season starts in July, although most companies report their earnings in August.
Today, Bursa Malaysia saw 392 gainers compared with 364 decliners. A total of 1.77 billion shares valued at RM1.89 billion were traded.
Top gainer was KESM Industries Bhd while Mlabs Systems Bhd was the top-active counter. Pong said penny stocks' performance was a good barometer for retail investors' sentiment.
Across Asian share markets, Japan’s Nikkei 225 fell 0.05% while Hong Kong’s Hang Seng rose 0.91%. South Korea's Kospi added 0.44%.
Reuters reported that Asian shares rose on Tuesday after modest gains on Wall Street, while robust metals prices underpinned some regional markets even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.
Source: The Edge
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