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 (Sept 25): The FBM KLCI ended in negative territory for the fifth consecutive trading session today, on continued selling by foreign funds.
The benchmark index ended the day 1.90 points or 0.11% lower at 1769.14.
On the broader market, there were 558 decliners versus 264 advancers, while 412 counters finished unchanged. Some 2.46 billion shares, worth RM2.36 billion were traded.
“There has been unwinding of foreign funds and they have been selling for the past few days,” said Malacca Securities Sdn Bhd senior analyst Kenneth Leong.
“(The decline) is because of profit-taking as well, but only mild, in selective banking companies such as RHB Bank Bhd, Malayan Banking Bhd and AMMB Holdings Bhd,” Leong told theedgemarkets.com when contacted.
Elsewhere in Asia, Japan’s Nikkei 225 close up 0.50%, South Korea's Kospi fell 0.35%, while Hong Kong's Hang Seng decreased by 1.36%.
Reuters reported the Nikkei share average rose as a weaker yen lifted exporters, while expectations of economic stimulus measures, after an election next month supported overall sentiment.
As the end of Japan’s fiscal first half looms on Sept 30 for a majority of listed companies, the market was also underpinned by investors buying up stocks before they go ex-dividend on Wednesday.
Source: The Edge
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