KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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
Comments
Post a Comment