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 12): The FBM KLCI jumped 3.73 points or 0.2% on
last-minute buying in blue-chip stocks Kuala Lumpur Kepong Bhd (KLK),
Petronas Gas Bhd, Hong Leong Bank Bhd and Hong Leong Financial Group
Bhd.
At 5pm, the KLCI erased losses to settle at 1,873.62 after falling to its intraday low at 1,865.14 as news of a possible US military strike in Syria hit Asian market sentiment.
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com: “It doesn’t change the fact that there was profit taking in the earlier part and we always come across last-minute surprises like this. Hong Leong Bank, Hong Leong Financial, Petronas Gas helped to push up the index in the last minutes.
“On the other hand, small caps still remained in profit-taking mode.”
At 5pm, Bursa Malaysia's small-cap index fell 85.09 points or 0.56% to close at 14,963.97.
Across Bursa Malaysia, 3.27 billion shares worth RM2.34 billion changed hands. KLK, Petronas Gas, Hong Leong Bank and Hong Leong Financial closed among the top gainers.
The KLCI had earlier fallen with Asian shares. Reuters reported that global stocks came under pressure on Thursday as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about potential disruptions to supply and distribution.
Across Asian share markets, Japan’s Nikkei 225 was down 0.12%, South Korea's Kospi fell 0.06% while Hong Kong's Hang Seng decreased 0.22%.
Source: The Edge
At 5pm, the KLCI erased losses to settle at 1,873.62 after falling to its intraday low at 1,865.14 as news of a possible US military strike in Syria hit Asian market sentiment.
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com: “It doesn’t change the fact that there was profit taking in the earlier part and we always come across last-minute surprises like this. Hong Leong Bank, Hong Leong Financial, Petronas Gas helped to push up the index in the last minutes.
“On the other hand, small caps still remained in profit-taking mode.”
At 5pm, Bursa Malaysia's small-cap index fell 85.09 points or 0.56% to close at 14,963.97.
Across Bursa Malaysia, 3.27 billion shares worth RM2.34 billion changed hands. KLK, Petronas Gas, Hong Leong Bank and Hong Leong Financial closed among the top gainers.
The KLCI had earlier fallen with Asian shares. Reuters reported that global stocks came under pressure on Thursday as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about potential disruptions to supply and distribution.
Across Asian share markets, Japan’s Nikkei 225 was down 0.12%, South Korea's Kospi fell 0.06% while Hong Kong's Hang Seng decreased 0.22%.
Source: The Edge
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