KUALA LUMPUR, Aug 19 (Bernama) -- Bursa Malaysia ended lower on Wednesday, as elevated United States (US) Treasury yields and weakness in technology stocks weighed on investor sentiment, an analyst said. However, gains in healthcare and telecommunications stocks provided some support to the broader local market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.04 points, or 0.12 per cent, to 1,731.32 compared with Tuesday’s close of 1,733.36. The benchmark index opened 1.39 points weaker at 1,731.97, and fluctuated between 1,725.95 and 1,733.44 throughout the day. On the broader market, losers outpaced gainers 701 to 478, while 563 counters were unchanged, 1,131 untraded and 16 suspended. Turnover shrank to 3.31 billion units valued at RM2.92 billion from 3.74 billion units valued at RM2.91 billion on Tuesday.
Market Daily Report: FBM KLCI falls; volume breaches four billion shares as FBM ACE trumps blue chips
KUALA LUMPUR (Oct 12): The FBM KLCI fell 3.21 points or 0.2% as rotational interest in smaller-capitalisation stocks helped the FBM ACE gain 136.78 points or 2%. Such sentiment led to a share-trade volume rise across Bursa Malaysia to above four billion units.
At 5pm, the KLCI closed at 1,754 points while the FBM ACE ended at 6,840.98 points. The KLCI fell today despite US equity indices reaching record closing highs overnight.
In Malaysia, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the stock market was "affected by renewed selling pressure in selected telco (telecommunication company) and banking heavyweights especially Hong Leong Bank Bhd and Digi.Com Bhd.”
Across Bursa Malaysia, 4.33 billion shares valued at RM2.39 billion changed hands. Gainers outpaced decliners at 446 versus 396 respectively.
Top gainers included rubber glove manufacturers Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd.
US shares rose overnight. Reuters reported that major US stock indices edged up to post record closing highs on Wednesday after a report that a market-friendly candidate was being pushed as successor to Janet Yellen to helm the US central bank helped indices close near the highs of the day.
The Dow Jones Industrial Average rose 42.21 points, or 0.18 percent, to end at 22,872.89, the S&P 500 gained 4.6 points, or 0.18 percent, to 2,555.24 and the Nasdaq Composite added 16.30 points, or 0.25 percent, to 6,603.55.
Source: The Edge
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