KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA LUMPUR (Aug 2): The FBM KLCI rose 5.48 points or 0.3% on bargain hunting in index-linked plantations stocks Kuala Lumpur Kepong Bhd (KLK) and PPB Group Bhd. Lotte Chemical Titan Holding Bhd's share rise could have also improved broader market sentiment.
At 5pm, the KLCI closed at 1,770.61 points. KLK and PPB rose 12 sen each to RM24.72 and RM16.90 respectively.
Lotte Chemical Titan rose 14 sen to RM4.42 to become Bursa Malaysia's 10th most-active stock.
Lotte Chemical Titan shares had declined in recent days after the company said net profit dropped to RM113.62 million in the second quarter ended June 30, 2017 (2QFY17)from RM404.03 million a year earlier.
Today, TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that the KLCI rose mainly due to buying interest in selected heavyweight plantation stocks such as KLK and PPB.
“[However], generally the trend is still cautious. The broader market is still in profit taking and consolidation mode,” said Soo.
Across Bursa Malaysia, 1.8 billion shares worth RM1.75 billion were traded. There were 362 gainers and 429 decliners.
Malaysian shares rose with Asian share markets. Japan’s Nikkei 225 rose 0.47%, Hong Kong’s Hang Seng was up 0.24% while South Korea’s Kospi gained 0.19%.
Reuters reported that Japan's Nikkei share average rose to a 1½ week high on Wednesday, supported by strong domestic earnings as well as a rally among Apple's suppliers after the iPhone maker reported robust profits.
It was reported that the dollar has been weighed down by political turmoil gripping Washington and largely uninspiring US economic data, which is adding to uncertainty about the pace of future US Federal Reserve policy tightening.
Source: The Edge
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