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 (Sept 13): The FBM KLCI shed 3.79 points or 0.2% on profit taking after the index breached the 1,790-point level in intraday trade.
At 5pm, the KLCI closed at 1,786.07 points after rising to its intraday high at 1,793.22 points. The KLCI had earlier risen after the US' S&P 500 closed at a record high overnight on Tuesday.
In Malaysia today, Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com that “the (KLCI's) lower performance is actually a healthy pullback for the market, as you can see that the trading volume remains strong at 2.7 billion shares.
"The broader market is still positive.”
Across Bursa Malaysia, the 2.7 bllion share-trade volume was worth RM1.85 billion. Decliners outnumbered gainers at 462 to 362 respectively.
DBE Gurney Resources Bhd was the most-active stock. DBE shares closed 0.5 sen higher at 3.5 sen with some 193 million units traded.
Malaysian shares tracked overnight US share gains. Reuters reported that the Dow Jones Industrial Average rose 61.49 points or 0.28 percent to 22,118.86, the S&P 500 gained 8.37 points or 0.34 percent to 2,496.48 and the Nasdaq Composite added 22.02 points or 0.34 percent to 6,454.28.
It was reported that the S&P 500 hit a record closing high for the second day in a row on Tuesday, with financial stocks leading the charge, but gains were stunted by a decline in Apple Inc shares after it unveiled its latest iPhone.
Source: The Edge
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