KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
KUALA LUMPUR (Sept 29): The FBM KLCI fell 2.48 points or 0.1% as Hong Leong Financial Group Bhd and Public Bank Bhd dropped among Bursa Malaysia's top decliners on foreign selling.
TA Securities Holdings Bhd senior technical analyst Stephen Soo said there seemed to be selling pressure on Malaysian blue-chip stocks on US interest rate hike and tax cut cues.
“The foreign selling (in Malaysian shares) happens because investors’ mood or sentiment is damaged by the (US) fed funds (rate) announcement, Soo told theedgemarkets.com. The US interest rate is also known as federal funds rate.
At Bursa Malaysia, the KLCI ended at 1,755.58 points at 5pm. The KLCI had earlier fallen sharply to its intraday low at 1,753 points on Hong Leong Financial and Public Bank share losses.
At 5pm, Hong Leong Financial fell 20 sen to close at RM16.60 while Public Bank dropped 14 sen to RM20.44 to become Bursa Malaysia's third and fourth largest decliners respectively.
Across Bursa Malaysia, there were 397 decliners versus 387 advancers. A total of 2.02 billion shares worth RM2.13 billion were traded.
The most active stocks included CIMB Group Holdings Bhd, which rose three sen to RM6.30 with some 23 million shares transacted. CIMB was the 10th most active stock on Bursa Malaysia.
Source: The Edge
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