KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
KUALA LUMPUR (June 20): The FBM KLCI slipped 5.61 points or 0.3% to its intraday low after investors sold KLCI-linked banking stocks in the final trading minutes. Lingering concerns on the US-China trade spat continued to dictate world market sentiment.
At Bursa Malaysia, the KLCI closed at 1,709.75 points at 5pm as Public Bank Bhd and Hong Leong Bank Bhd shares ended among Bursa Malaysia top decliners. The KLCI erased gains after rising to its intraday high at 1,728.69 points.
“Banks caused the (KLCI's) downturn in the last half an hour of trading,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com.
Yesterday, the KLCI fell 28.07 points as news of the escalating US-China trade spat hit global markets.
Across Bursa Malaysia today, 1.85 billion shares worth RM2.21 billion were traded.
Public Bank shares closed 58 sen lower at RM22.78 while Hong Leong Bank fell 20 sen to RM18.46.
Asian shares rose. In China, the Shanghai Stock Exchange Composite rose 0.27% while Hong Kong’s Hang Seng was up 0.77%. Elsewhere, Japan's Nikkei 225 rose 1.24% while South Korea's Kospi climbed 1.02%.
Reuters reported that Asian stock markets bounced on Wednesday following a wobbly morning session that highlighted the lingering anxiety and uncertainty surrounding a heated trade dispute between China and the United States. In Asia, bargain hunters turned up to pick up shares on the cheap after the previous day's rout.
Source: The Edge
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