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 21): The FBM KLCI climbed 2.32 points or 0.1% after Petronas Gas Bhd's share price spiked in the final trading minutes. The ringgit strengthened to a new one-year level against the US dollar at 4.1390.
At 5pm, the KLCI closed at 1,720.68 points. KLCI-linked Petronas Gas added 48 sen to RM17.14 to become Bursa Malaysia's top gainer.
Across Bursa Malaysia, decliners led gainers by 640 against 231 respectively. A total of 2.27 billion shares valued at RM2.37 billion exchanged hands.
Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said that market breadth across Bursa Malaysia was still rather negative as corporate earnings growth failed to attract investors.
“It’s a continuity of trends," Pong told theedgemarkets.com.
In currency markets, the ringgit was traded at 4.1400 against the US dollar at 5:40pm. The ringgit had earlier today appreciated to its strongest level in a year against the US dollar at 4.1390.
The exchange rate today was between 4.1390 and 4.1533. Over the last one year, the exchange rate was between 4.1390 and 4.5002. Asian shares rose today. Japan’s Nikkei 225 rose 0.7% while Hong Kong's Hang Seng climbed 1.91%.
Reuters reported that Asian stocks rose to a 10-year high on Tuesday as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers, thanks to higher US yields and a floundering euro.
Source: The Edge
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