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 10): The FBM KLCI jumped 11.27 points or 0.6% after China President Xi Jinping struck a conciliatory tone in his speech today, in which he highlighted China's plan to widen market access for foreign investors, raise the foreign ownership limit in the automobile sector and protect intellectual property of foreign firms.
Reuters reported that US stock futures rallied, Asian equities bounced and the safe haven yen fell on Tuesday, as Xi Jinping promised to lower import tariffs on products including cars, helping soothe investor jitters over an escalating US-China trade row. Xi was speaking at the Boao Forum for Asia in Hainan province.
At Bursa Malaysia, the KLCI closed at 1,860.98 at 5pm. Trade volume across Bursa Malaysia was 3.73 billion shares worth RM2.71 billion. Yesterday, trade volume was 2.22 billion shares worth RM2.1 billion.
Across Asian share markets, Japan’s Nikkei 225 rose 0.54% while Hong Kong’s Hang Seng increased 1.65%.
In Malaysia, Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that the stock market's gain is a recovery from a severely oversold position recently following concerns on the trade spat between US and China.
“The market movement today is a recovery from an oversold position seen in the last week. Chinese president Xi Jinping’s speech has given confidence to the market after concerns over a potential trade war led to a heavy selldown recently," Low said.
Source: The Edge
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