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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Market Daily Report: Malaysian stocks slip on profit-taking




KUALA LUMPUR (April 13): Malaysian stocks closed lower today due to profit-taking after the surge early this week.

The benchmark FBM KLCI ended the day 5.15 points or 0.28% lower at 1,868.47 points, dragged down by Astro Malaysia Holdings Bhd, Petronas Gas Bhd and MISC Bhd. The index was trading in the range of 1,866.02 points and 1,871.13 points throughout the day.

Market breadth was positive with 513 gainers compared with 323 decliners. A total of 477 counters were unchanged. Trading volume decreased to 2.72 billion shares worth RM2.19 billion compared with 3.27 billion shares worth RM2.34 billion on Thursday.

Public Investment Bank Bhd head of research Ching Weng Jin told theedgemarkets.com that investors decided to take some profits ahead of the 14th General Election on May 9.
“There was no major sell-down today. It (KLCI) didn’t drop much," he said.

“Regional markets looked positive except for China. Even the US-Russia conflict was off the table (and) calm has returned for a while,” Ching added.

Across Asia, Japan’s Nikkei 225 closed up 0.55%, South Korea's Kospi rose 0.51% while Hong Kong's Hang Seng fell 0.07%.

Reuters reported that investors are still keeping an eye on the tensions in the Middle East even after suggestions from US President Donald Trump that a military strike on Syria may not be imminent.


Source: The Edge
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