KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
KUALA LUMPUR (April 9): The FBM KLCI increased 12.7 points or 0.7% as Asian shares rose with US equity futures. World shares rose after US President Donald Trump expressed optimism on US-China ties despite the current trade spat between both countries.
Trump said via Twitter yesterday President Xi Jinping and him will always be friends, no matter what happens with the US-China dispute on trade. Trump tweeted: "China will take down its trade barriers because it is the right thing to do. Taxes will become reciprocal and a deal will be made on intellectual property. Great future for both countries!"
At Bursa Malaysia today, the KLCI closed at 1,849.71 at 5pm. Across Asia, Japan's Nikkei 225 gained 0.51% while Hong Kong’s Hang Seng climbed 1.29%. Among US equity futures, the Dow Jones mini Futures rose 0.79% as at 5:46pm.
Reuters reported that global stocks rose on Monday as the US government played down fears of a trade war with China that has roiled markets over the last week. It was reported that Trump's chief economic adviser, National Economic Council Director Larry Kudlow, said in an interview on Sunday the ongoing spat "might turn out to be very benign".
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said the market had been eager to hang onto any suggestion that the US-China trade war risk will ease.
“If you look at the market, it has been very volatile, swinging up and down on any news that could suggest stronger trade barriers or any indication of a lesser one. I believe this volatile trend will continue moving forward,” Pong said.
Source: The Edge
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