KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
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
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