KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
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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