KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA LUMPUR (Dec 21): The FBM KLCI gained 4.58 points or 0.3%, mainly on late buying of Petronas Gas Bhd shares amid fund managers' extended window dressing activities.
At 5pm, the KLCI closed at 1,751.21 points. Petronas Gas rose 58 sen to RM16.96 to become Bursa Malaysia's biggest gainer.
Across Bursa Malaysia, decliners outweighed gainers at 440 to 375 respectively. Trading volume was 2.48 billion shares worth RM2.06 billion.
Malacca Securities Sdn Bhd senior research analyst Kenneth Leong told theedgemarkets.com that the KLCI benefitted from fund managers' extended window dressing particularly on Petronas-related counters like Petronas Gas and Petronas Chemicals Group Bhd.
“We expect the market to be muted moving into the post-Christmas holiday period as investors lock in their profits. We were seeing some of them doing so today judging from the negative market breadth,” Leong said.
Across Asian share markets, Japan’s Nikkei 225 fell 0.11% while South Korea's Kospi declined 1.72%. Hong Kong's Hang Seng gained 0.45%.
Reuters reported that Asian markets offered a muted reception on Thursday to the passage of US tax cuts as benefits to company bottom lines were already factored into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
It was reported that South Korea was dragged down by weakness in Samsung, but Indonesia rose after Fitch upgraded the country's credit rating.
Source: The Edge
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