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 16): The FBM KLCI rose 1.36 points or 0.1% as the
geopolitical tension between the US and North Korea receded. The KLCI
erased losses after falling with index-linked plantation shares.
At 5pm, the KLCI closed at 1,773.75 points after falling to its intraday low at 1,771.6 points.
“The market today is quite flat, no local catalysts in sight except for more corporate results coming in [within these two weeks]...also markets seem to have calmed down from the US and North Korea tensions earlier,” JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com.
Reuters reported that the dollar hoarded hefty gains on Wednesday after strong US retail sales revived the chance of another Federal Reserve rate hike this year, while Asia stocks inched ahead as tensions in the Korean peninsula went off the boil.
It was reported that North Korean leader Kim Jong Un has delayed a decision to fire missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim.
At Bursa Malaysia, the KLCI fell earlier as investors sold plantation shares on news Malaysian crude palm oil (CPO) futures dropped more than 1% today. Malaysian CPO had tracked overnight soyoil losses on the Chicago Board of Trade as both commodities are substitutes to each other.
CPO's price drop had an apparent impact on Malaysian shares as plantation companies topped Bursa Malaysia decliners. United Plantations Bhd shares topped decliners followed by Genting Plantations Bhd warrants.
Across Bursa Malaysia, 1.72 billion shares valued at RM1.8 billion were traded. Gainers outweighed decliners at 498 against 283 respectively.
Source: The Edge
At 5pm, the KLCI closed at 1,773.75 points after falling to its intraday low at 1,771.6 points.
“The market today is quite flat, no local catalysts in sight except for more corporate results coming in [within these two weeks]...also markets seem to have calmed down from the US and North Korea tensions earlier,” JF Apex Securities Bhd senior analyst Lee Cherng Wee told theedgemarkets.com.
Reuters reported that the dollar hoarded hefty gains on Wednesday after strong US retail sales revived the chance of another Federal Reserve rate hike this year, while Asia stocks inched ahead as tensions in the Korean peninsula went off the boil.
It was reported that North Korean leader Kim Jong Un has delayed a decision to fire missiles towards Guam while he waits to see what the United States does, as Washington said any dialogue was up to Kim.
At Bursa Malaysia, the KLCI fell earlier as investors sold plantation shares on news Malaysian crude palm oil (CPO) futures dropped more than 1% today. Malaysian CPO had tracked overnight soyoil losses on the Chicago Board of Trade as both commodities are substitutes to each other.
CPO's price drop had an apparent impact on Malaysian shares as plantation companies topped Bursa Malaysia decliners. United Plantations Bhd shares topped decliners followed by Genting Plantations Bhd warrants.
Across Bursa Malaysia, 1.72 billion shares valued at RM1.8 billion were traded. Gainers outweighed decliners at 498 against 283 respectively.
Source: The Edge
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