KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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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