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 20): The FBM KLCI fell by a marginal 1.33 points or 0.07% to close at 1,855.99 today as investors took profit after yesterday’s gains.
The benchmark index’s softer finish was in line with the lower trend in other Asian markets. Japan’s Nikkei closed 1.01% lower, Hong Kong’s Hang Seng Index 0.78% lower, and South Korea’s KOSPI 1.13% lower.
Malacca Securities Sdn Bhd head of research Victor Wan said the profit taking was "very much expected" after most Asian stocks traded positively yesterday.
“We have recovered quite a substantial bit after the recent selldown earlier in February,” Wan told the theedgemarkets.com.
“The market’s performance in the near term has got to depend on the corporate earnings announcements this month,” he said. “Last week we saw an encouraging set of economic data, and now we have to see if these data will be reflected in the corporate earnings as well.
Bursa Malaysia saw a total of 2.28 billion shares, worth RM2.1 billion, traded today.
There were 409 gainers versus 556 losers, while 346 counters remained unchanged.
The gainers were led by Nestle (M) Bhd while Hengyuan Refining Co Bhd was the biggest loser.
Sino Hua-An International Bhd was the most actively-traded counter, with 98.79 million shares done.
Source: The Edge
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