Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
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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