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.
KUALA LUMPUR (Nov 8): The FBM KLCI closed 6.74 points or 0.4% lower
on profit taking and after China announced October export growth slowed to 6.9% from a year earlier.
At Bursa Malaysia, the KLCI closed at 1,744.2 points at 5pm. Investors took profit today after the index rose 8.65 points yesterday to 1,750.94 points.
AmInvestment Bank Bhd research analyst Lim Sae Wai told theedgemarkets.com that Malaysian companies' quarterly earnings announcements had not been able to sustain the KLCI's uptick.
“The KLCI needed a few more points to break (the) resistance. While technical indicators provide a slight bearish view, we can give it more time to see which direction the market is heading to," Lim said.
Across Bursa Malaysia, decliners led gainers by 443 against 342 respectively. A total of 2.6 billion shares valued at RM2.14 billion changed hands.
Top decliner was Petronas Dagangan Bhd followed by Petronas Gas Bhd.
China's latest external trade numbers could have also affected global share-trade sentiment.
Reuters reported that China's October exports lagged market expectations, rising 6.9 percent from a year earlier while imports beat forecasts, growing 17.2 percent, official data showed on Wednesday.
Analysts polled by Reuters had expected October shipments from the world's largest exporter to have risen 7.2 percent, slower than the 8.1 percent in the previous month.
Source: The Edge

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