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Market Daily Report: Bursa Malaysia Ends Flat As Concerns Over US Bond Yields, West Asia Weigh

KUALA LUMPUR, Sept 25 (Bernama) -- Bursa Malaysia ended flat on Friday amid concerns over rising US Treasury yields and escalation in West Asia. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.69 points, or 0.04 per cent, to 1,671.62, from Thursday’s close of 1,672.31. The benchmark index, which opened 2.56 points higher at 1,674.87, moved between 1,666.99 and 1,675.47 during the day. Market breadth was nearly even, with decliners outnumbering gainers 590 to 575. A total of 534 counters were unchanged, while 1,224 were untraded and 43 suspended. Turnover widened to 4.07 billion units worth RM2.69 billion from 3.32 billion units valued at RM2.74 billion on Thursday.
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Market Daily Report: KLCI up on MISC support as crude oil rises





KUALA LUMPUR (Nov 6): The FBM KLCI rose 1.36 points or 0.1%, supported by blue-chip counters including MISC Bhd. Crude oil gains directed the spotlight on Bursa Malaysia's oil and gas-related stocks.

At 5pm, the KLCI closed at 1,742.29 points. MISC added 30 sen to RM7.41 to become Bursa Malaysia's fifth-largest gainer.

MISC shares rose after the shipping company declared a tax-free dividend of seven sen a share. MISC declared its dividend on Friday in conjunction with the announcement of its third quarter results.

Across Bursa Malaysia today, three billion shares worth RM2.08 billion were traded. Despite KLCI's gain, there were more decliners than gainers — 429 versus 401 respectively.

Top gainers included oil and gas-related companies Hengyuan Refining Co Bhd and Petron Malaysia Refining & Marketing Bhd.

Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com that "Hengyuan and Petron have benefited from rising oil prices”.

Reuters reported that oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests.

Brent futures, the international benchmark for oil prices, hit US$62.44 per barrel early on Monday, their highest level since July 2015.


Source: The Edge
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