KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (April 18): The FBM KLCI fell 1.17 points or 0.1% on profit taking after the index climbed yesterday to close at its highest in about four years. At 5pm today, the KLCI settled at 1,879.32 after rising to its intraday high at 1,884.84.
Yesterday, the KLCI rose 1.73 points to close at 1,880.49. Today, TA Securities Holdings Bhd wrote in a note: "Even as the index may attempt to climb higher due to sustained buying support on key heavyweights, lower liners and small caps should stall on profit-taking pending local catalysts. A convincing push above 1,880 on positive market breadth is needed to aim for the record high of 1,896.23 from July 2014, which will act as a significant hurdle."
Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com today that volume across Bursa Malaysia remained thin as investors were still cautious ahead of Malaysia's 14th general election (GE14). Polling day falls on May 9.
Today, 2.34 billion shares were traded across Bursa Malaysia for RM1.97 billion. Pong said: “The market is trying to position itself for a rally, but most investors are still holding back.”
Leading gainers included Far East Holdings Bhd and Hong Leong Bank Bhd while top decliners included KESM Industries Bhd and Petron Malaysia Bhd.
The most-actively traded stock was Sapura Energy Bhd with some 224 million shares transacted. Sapura Energy fell four sen to 73 sen.
Source: The Edge
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