KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
KUALA LUMPUR (May 21): The FBM KLCI fell 0.92 point on profit taking in 11th-hour volatile trade after rising earlier with Asian shares. Earlier, Reuters reported that world stocks rose on Monday after US Treasury Secretary Steven Mnuchin declared the US-China trade war "on hold" following their agreement to suspend the tariff threats that roiled global markets this year.
At Bursa Malaysia, the KLCI closed lower at 1,853.58 points at 5pm after rising to its intraday high of 1,864.94 points. The KLCI ended weaker after losses in index-linked stocks including Hong Leong Financial Group Bhd, Tenaga Nasional Bhd and CIMB Group Holdings Bhd.
Across Bursa Malaysia, volume stood at 2.78 billion shares valued at RM3.05 billion. Hong Leong Financial, Tenaga and CIMB ended among Bursa Malaysia's top decliners.
CIMB, which fell 20 sen to RM6.60 today, has been closely watched as investors evaluated the company's outlook after Malaysia Prime Minister Tun Dr Mahathir Mohamad-led Pakatan Harapan's win in the country's 14th General Election.
MIDF Amanah Investment Bank Bhd wrote in a note today: "CIMB registered the highest net money inflow of RM41.21m last week. Its share price underperformed with a 1.45% decrease against the FBM KLCI which advanced by 0.43% during the week under review. It is notable that net money inflow amidst retreating share price may indicate a buy on weakness stance among some investors."
Today, Asian equities closed higher. Japan’s Nikkei 225 was up 0.31% while South Korea’s Kospi rose 0.2%. In China, Hong Kong’s Hang Seng gained 0.6% while the Shanghai Stock Exchange Composite was 0.64% higher.
Tomorrow, Hong Kong markets will be closed for a holiday in conjunction with the birthday of the Buddha. In Malaysia, Bank Negara Malaysia is scheduled to announce its international reserves data in the afternoon.
Source: The Edge
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