KUALA LUMPUR, Oct 20 (Bernama) -- Bursa Malaysia’s benchmark index edged higher at the close as bargain hunting emerged following Monday’s sharp sell-off, although it narrowly failed to reclaim the 1,600 level, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.83 points, or 0.24 per cent, to 1,599.58 from Monday’s close of 1,595.75. The index opened 3.18 points lower at 1,592.57, marking its intraday low, and reached an intraday high of 1,602.83 in early trading. On the broader market, decliners outnumbered gainers 751 to 331, while 499 counters were unchanged, 1,259 untraded and 10 suspended. Turnover rose to 2.86 billion units worth RM2.42 billion against Monday’s 2.49 billion units worth RM2.38 billion.
KUALA LUMPUR (Sept 26): The FBM KLCI fell 3.55 points or 0.2% after North Korea's statement saying US President Donald Trump has declared war on North Korea, rattled global markets.
Reuters reported North Korean Foreign Minister Ri Yong Ho as saying Trump's Twitter comments, in which the U.S. leader said Ri and leader Kim Jong Un "won't be around much longer" if they acted on their threats, amounted to a declaration of war and that Pyongyang had the right to take countermeasures.
It was reported that the White House disputed the declaration, calling the suggestion "absurd".
In Malaysia, the KLCI closed at 1,765.59 points, after falling to its intraday low at 1,761.21 points.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com that the US-North Korea "geopolitical tension" had affected market sentiment.
“(In Malaysia), there is selling pressure on renewed foreign fund outflow," Leong said.
Across Bursa Malaysia, 3.7 billion shares valued at RM2.74 billion exchanged hands. Decliners outpaced gainers at 528 against 282 respectively.
North Korea's statement rattled world share markets. Japan's Nikkei 225 declined 0.33%, while South Korea's Kospi was 0.26% lower.
Asian equities had tracked overnight US stock losses today. The Dow Jones Industrial Average fell 0.24%, S&P 500 declined 0.22%, while Nasdaq was down 0.88%.
Source: The Edge
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