KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR (Feb 28): The FBM KLCI fell 15.26 points or 0.8% with Asian shares as investors responded to weaker China and Japan manufacturing data amid anticipation of speedier US interest rate hikes. At 5pm, the KLCI closed at 1,856.20.
Across Asia, Japan’s Nikkei 225 fell 1.44%. In China, Hong Kong’s Hang Seng dropped 1.36% while the Shanghai Stock Exchange Composite was 0.99% lower.
Reuters reported that China's official Purchasing Managers' Index (PMI) released on Wednesday fell to 50.3 in February, from 51.3 in January. But it remained just above the 50-point mark that separates growth from contraction on a monthly basis. In Japan, trade ministry data out on Wednesday showed factory output fell 6.6 percent in January from the previous month.
It was also reported that most emerging Asian currencies fell on Wednesday, while the dollar held firm near a three-week high after US Federal Reserve chairman Jerome Powell struck a hawkish tone in his Congressional testimony.
At Bursa Malaysia, the KLCI dropped as plantation stocks fell. Bursa Malaysia's plantation index declined 84.66 points or 1.05% to 7,991.47. Kuala Lumpur Kepong Bhd and PPB Group Bhd were among Bursa Malaysia top decliners.
Today also marks the conclusion of Malaysia's corporate financial reporting season for the October-to-December 2017 quarter. Rakuten Trade research vice president Vincent Lau said despite profit growth announced by key KLCI constituents, the broader picture failed to impress.
“It is a mixed bag, [the overall results] were not that great,” Lau told theedgemarkets.com.
Source: The Edge
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