KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
KUALA LUMPUR (Feb 12): Malaysian stocks closed higher today, in tandem with most Southeast Asian stock markets following a higher Friday close for US stocks after a wild week.
The FBM KLCI ended the day up 10.35 points or 0.57% at 1,830.17, after hovering between 1,834.45 and 1,824.89 today. Market breadth was negative with 484 losers compared with 453 gainers with and 480 counters unchanged.
AmInvestment Bank Research analyst Lim Sae Wai said investors are still bracing for more volatile trading days ahead for fear of another market selldown in the US market.
"At the moment, our local market is very much dependent on international market sentiment, especially the US. But even with the rebound (in US stocks) last Friday, most investors are not convinced that the market sell down is over," he told theedgemarkets.com.
"On a slightly medium-term outlook, the market is still considered going through a healthy correction after being overbought of late," Lim added.
He also said so long as the benchmark index stays over the support level of 1,795 points, there should be a general positive bias throughout the market.
Trading volume fell to 1.8 billion shares worth RM2.27 billion compared with Friday's 2.5 billion shares worth RM2.67 billion.
Top gainers were Ajinomoto (Malaysia) Bhd, United Plantations Bhd, and Petronas Gas Bhd, while top losers were Hong Leong Financial Group Bhd, Panasonic Manufacturing Malaysia Bhd, and British American Tobacco (Malaysia) Bhd.
Across Asia, Singapore's STI rose 0.23%, South Korea's KOSPI went up 0.91%, while Hong Kong's Hang Seng was down 0.16%.
Source: The Edge
Comments
Post a Comment