KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA
LUMPUR (Dec 4): The FBM KLCI spent the day in negative territory as
funds appear to have sold in order to readjust their portfolios
following Bursa Malaysia’s semi-annual review of the index.
The benchmark index closed 4.73 points or 0.28% lower at 1,713.13.
Funds, especially those which are index-linked, may have contributed to the heavy selling today as they readjusted their holdings to reflect the new components of the index, said Pong Teng Siew, head of research at Inter Pacific Securities Sdn Bhd.
IJM Corp Bhd and Sime Darby Property Bhd, which are among the two counters that will be losing their places in the component stocks list, were the top decliners among the index’s movers.
Across the bourse, a total of 1.8 billion shares were crossed today for a total value of RM2.57 billion.
Decliners trumped gainers with a 3-to-1 ratio, led by Hartalega Holdings Bhd, Allianz Malaysia Bhd and Malaysian Pacific Industries Bhd.
The most actively traded counters were Sime Darby Bhd, Berjaya Corp Bhd and DGB Asia Bhd, while gainers were led by Hengyuan Refining Co Bhd, British American Tobacco (M) Bhd and Hong Leong Financial Group Bhd.
Across Asia, shares were weak on fears that liquidity would be squeezed by tightening US policy, Reuters reported. MSCI’s broadest index of Asia Pacific shares outside Japan hovered near more than one-month lows while the Nikkei fell 0.5%.
In China, the SSE Composite slipped 0.2% while Australian shares fell 0.1%. Hong Kong’s Hang Seng, however, managed to rise 0.22% to 29,138.28.
Source: The Edge
The benchmark index closed 4.73 points or 0.28% lower at 1,713.13.
Funds, especially those which are index-linked, may have contributed to the heavy selling today as they readjusted their holdings to reflect the new components of the index, said Pong Teng Siew, head of research at Inter Pacific Securities Sdn Bhd.
IJM Corp Bhd and Sime Darby Property Bhd, which are among the two counters that will be losing their places in the component stocks list, were the top decliners among the index’s movers.
Across the bourse, a total of 1.8 billion shares were crossed today for a total value of RM2.57 billion.
Decliners trumped gainers with a 3-to-1 ratio, led by Hartalega Holdings Bhd, Allianz Malaysia Bhd and Malaysian Pacific Industries Bhd.
The most actively traded counters were Sime Darby Bhd, Berjaya Corp Bhd and DGB Asia Bhd, while gainers were led by Hengyuan Refining Co Bhd, British American Tobacco (M) Bhd and Hong Leong Financial Group Bhd.
Across Asia, shares were weak on fears that liquidity would be squeezed by tightening US policy, Reuters reported. MSCI’s broadest index of Asia Pacific shares outside Japan hovered near more than one-month lows while the Nikkei fell 0.5%.
In China, the SSE Composite slipped 0.2% while Australian shares fell 0.1%. Hong Kong’s Hang Seng, however, managed to rise 0.22% to 29,138.28.
Source: The Edge
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