KUALA LUMPUR, Aug 6 (Bernama) -- Bursa Malaysia closed lower as investors took profits following the recent rebound, with telecommunications and industrial stocks leading the decline, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 11.02 points to 1,737.15, compared with Wednesday's close of 1,748.17. The benchmark index opened 1.48 points higher at 1,749.65, its intraday high, and hit a low of 1,733.38 in the afternoon session. On the broader market, decliners led advancers 575 to 567, while 573 counters were unchanged, 1,028 untraded and 13 suspended. Turnover slipped to 3.24 billion units valued at RM2.90 billion from 3.89 billion units valued at RM3.80 billion on Wednesday.
KUALA LUMPUR (Nov 29): The FBM KLCI closed 5.96 points or 0.3% higher, mainly due to index-linked Tenaga Nasional Bhd's share price rise. The ringgit appreciated to its strongest level over the last one year against the US dollar at 4.0815.
At 5pm, the KLCI closed at 1,720.38 points. Tenaga shares ended 42 sen higher at RM15.40, to become the third-largest gainer on Bursa Malaysia.
Across Bursa Malaysia, 1.96 billion shares worth RM2.8 billion were traded. There were 389 gainers versus 416 decliners.
"The index (KLCI) closed slightly up mainly due to Tenaga," Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com.
In the currency markets, the ringgit appreciated to 4.0815 against a weakening US dollar at 5:35pm, while investors speculated that the Organization of the Petroleum Exporting Countries (OPEC) and Russia may extend oil supply cuts until the end of 2018 to support prices of the commodity.
Over the last one year, the exchange rate was between 4.0815 and 4.5002.
Source: The Edge
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