KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (April 23): The FBM KLCI fell 7.39 points or 0.4% while Bursa Malaysia's small-cap index dropped by a larger quantum as Asian shares faced headwinds from higher US government bond yields.
Reuters reported that the spike in oil prices has driven up both market expectations of future inflation and long-term bond yields. Yields on 10-year Treasuries are at the highest since early 2014 at 2.977 percent and again threatening the hugely important 3 percent bulwark. The last time yields neared this number in 2013 it rocked risk appetite and sent stocks sliding.
At Bursa Malaysia today, the KLCI closed at 1,880.36. Across Asia, Japan’s Nikkei 225 fell 0.33% while Hong Kong’s Hang Seng declined 0.54%.
In Malaysia, Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theedgemarkets.com: “If you look at the regional market, you can see that the market is afraid of all the uncertainties that are coming up. The rise in the US 10-year note (yields) and how that will affect the equity market, the selldown in the US tech-related counters as well as the occasional tweet by US President (Donald) Trump.”
Across Bursa Malaysia, volume stood at 1.94 billion shares worth RM1.66 billion. Bursa Malaysia's small-cap index fell 252.72 points or 1.7% to close at 14,638.24.
Source: The Edge
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