KUALA LUMPUR, June 12 (Bernama) -- Selected blue-chip counters trading at attractive valuations helped Bursa Malaysia close higher on Friday, despite cautious market sentiment driven by developments in West Asia, volatility in crude oil prices and uncertainty over the global interest rate outlook. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.10 points or 0.24 per cent to 1,683.63 compared with Thursday's close of 1,679.53. The key index opened 5.34 points stronger at 1,684.87 earlier today and moved between 1,679.72 and 1,685.39 throughout the session. Market breadth was negative, with losers leading gainers 533 to 479, while 561 counters were unchanged, 1,130 untraded and 33 suspended. Turnover fell to 2.79 billion units worth RM2.31 billion from 3.32 billion units worth RM2.88 billion yesterday.
KUALA LUMPUR (Nov 9): The FBM KLCI closed up 2.61 points or 0.15%
today at 1,746.81 points, as oil and gas (O&G) counters took centre
stage on the back of rising Brent crude oil prices.
Petronas Gas Bhd, Hengyuan Refining Co Bhd, and Petron Malaysia Refining & Marketing Bhd were among the top gainers after British American Tobacco (Malaysia) Bhd.
However, the KLCI was rather choppy throughout the day, in line with other Asian markets as the geopolitical outcomes from US President Donald Trump's visit to Asian countries remains to be seen, said TA Securities technical analyst Stephen Soo.
"It will be very tough for the market to clear the hurdle of 1,751 points, although there is good downside support above the 1,740 level," Soo told theedgemarkets.com.
He added that oil price movements are likely to continue contributing to outperformance of O&G counters. Brent crude oil futures last traded at US$63.44 and have gained more than 40% since July.
Across the local exchange, some 3.09 billion shares were traded today for a total of RM2.34 billion. Gainers outpaced decliners at 399 stocks to 398.
The most actively traded stocks were PUC Bhd, Key Alliance Group Bhd, and Ho Wah Genting Bhd, while Malaysian Pacific Industries Bhd, Heineken Malaysia Bhd and Petronas Dagangan Bhd were the top decliners.
In Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% to a 10-year high, tracking record-breaking gains on Wall Street, Reuters reported.
South Korea's Kospi, however, was flat after rising in past weeks, while Japan's Nikkei closed down 0.2% on profit-taking.
Source: The Edge
Petronas Gas Bhd, Hengyuan Refining Co Bhd, and Petron Malaysia Refining & Marketing Bhd were among the top gainers after British American Tobacco (Malaysia) Bhd.
However, the KLCI was rather choppy throughout the day, in line with other Asian markets as the geopolitical outcomes from US President Donald Trump's visit to Asian countries remains to be seen, said TA Securities technical analyst Stephen Soo.
"It will be very tough for the market to clear the hurdle of 1,751 points, although there is good downside support above the 1,740 level," Soo told theedgemarkets.com.
He added that oil price movements are likely to continue contributing to outperformance of O&G counters. Brent crude oil futures last traded at US$63.44 and have gained more than 40% since July.
Across the local exchange, some 3.09 billion shares were traded today for a total of RM2.34 billion. Gainers outpaced decliners at 399 stocks to 398.
The most actively traded stocks were PUC Bhd, Key Alliance Group Bhd, and Ho Wah Genting Bhd, while Malaysian Pacific Industries Bhd, Heineken Malaysia Bhd and Petronas Dagangan Bhd were the top decliners.
In Asian markets, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% to a 10-year high, tracking record-breaking gains on Wall Street, Reuters reported.
South Korea's Kospi, however, was flat after rising in past weeks, while Japan's Nikkei closed down 0.2% on profit-taking.
Source: The Edge
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