KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
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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