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 (June 12): The FBM KLCI fell 11.64 points or 0.7% while the ringgit weakened as investors anticipated major central banks' monetary policies this week.
At 5pm, the KLCI finished at 1,764.16 points after the ringgit depreciated to its weakest level today against the US dollar at 3.9940.
Reuters reported that the US Federal Reserve holds a two-day meeting starting on June 12, and it is widely expected to raise interest rates for the second time this year. The focus is on whether the central bank will hint at raising rates a total of four times in 2018.
It was reported that the European Central Bank (ECB) meets on June 14, when it could signal intentions to start unwinding its massive bond purchasing programme. Also, the Bank of Japan on Friday concludes a two-day meeting at which it is widely expected to keep its loose monetary policy intact.
In Malaysia today, JF Apex Securities Bhd senior research analyst Lee Cherng Wee said that catalysts that investors will be looking for this week include the potential outcome of the US Federal Reserve and ECB meetings.
“All eyes will be on the interest rate announcements by the Fed and ECB’s stand on its quantitative easing policy,” Lee told theedgemarkets.com
Across Bursa Malaysia today, 2.36 billion shares valued at RM2.39 billion were traded. Top decliners included Top Glove Corp Bhd, S P Setia Bhd and Genting Bhd.
Leading gainers included British American Tobacco (M) Bhd, Fraser & Neave Holdings Bhd and Nestle (M) Bhd.
Source: The Edge

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