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 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
Comments
Post a Comment