KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
KUALA LUMPUR (May 18): The FBM KLCI ended the day 0.06 points higher as investors continued to remain cautious on the changes that took place over the week.
Foreign selling was also observed to have tapered off.
At 5pm, the KLCI closed at 1,854.50 points with more losers than gainers. Volume stood at 2.92 billion shares worth RM3.16 billion.
The KLCI closed lower after rising to its intraday high of 1,862.19 points. The most active counters included My E.G. Services Bhd and Sapura Energy Bhd.
Rakuten Trade Sdn Bhd Head of Research Kenny Yee, told theedgemarkets.com, “There are more losers than gainers, investors are still jittery. People are waiting for announcements, especially relating to construction projects and therefore we may see uncertainty on those stocks for a while.”
Highway concessionaire stocks such as Lingkaran Trans Kota Holdings Bhd (Litrak) fell 26% after Tan Sri Dr Zeti Akhtar Aziz, a member of the Council of Eminent Persons, said the government is likely to make an announcement on toll charges as early as next week.
One of the Pakatan Harapan government’s election promises was the removal of toll charges.
Reuters also reported that market players also remain nervous about US-China trade tensions after US President Donald Trump said the world’s second largest economy had “become very spoiled on trade”.
Source: The Edge
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