KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Feb 27): The FBM KLCI gained 11.38 points or 0.61%, lifted mainly by banking stocks. At 5pm, the KLCI closed at 1,871.46 points.
Bursa Malaysia's finance index rose 201.41 points or 1.11% to settle at 18,299.16 points as Hong Leong Financial Group Bhd and Hong Leong Bank Bhd shares emerged among Bursa Malaysia's top 10 gainers.
“On a technical basis, the KLCI should continue to see an uptrend to about 1,880 level. If there is any negative external surprise, we should see a support level at about 1,840 to 1,850,” Hong Leong Investment Bank head of retail research Loui Low said.
Across Asian markets, Japan’s Nikkei 225 gained 1.07%, Hong Kong’s Hang Seng fell 0.73% while South Korea’s Kospi slipped 0.06%.
Reuters reported that global shares held firm near three-week highs on Tuesday as US borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell's awaited first congressional testimony later in the day. Powell's debut appearance is seen as critical for financial markets at a time when many investors are nervous about the Fed's policy normalisation following years of stimulus after the financial crisis almost a decade ago.
Source: The Edge
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