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 (June 8): The FBM fell 0.42% today as investors resorted to taking profit after a two-day rally and also due to the uncertainties on the external front.
The benchmark index closed 7.49 points lower at 1,778.32.
"This is a normal pullback, as investors monetise on their investment after a long rally since Wednesday," Maybank Investment Bank Bhd chartist Nik Ihsan Raja Abdullah told theedgemarkets.com.
Nik Ihsan said the market pullback is expected to continue into next week with no new catalyst in sight as the government embarks on various economic reforms and reviews current mega-infrastructure projects.
Across Bursa Malaysia today, the trading volume stood at 3.1 billion shares valued at RM2.42 billion, compared with 4.17 billion shares worth RM3.39 billion yesterday.
MY EG Services Bhd topped the active list with 170.98 million shares exchanging hands, equivalent to 4.74% of its share capital.
Gainers were led by Dutch Lady Milk Industries Bhd, British American Tobacco (Malaysia) Bhd and Malaysian Pacific Industries Bhd, while Nestle (M) Bhd was the top decliner, followed by Heineken Malaysia Bhd and Pharmaniaga Bhd.
The KLCI's fall was in tandem with Japan's Nikkei225 Index, which dropped 0.56%, while China's CSI300 Index retreated 1.34%. Hong Kong's Hang Seng Index slipped 1.76%, and South Korea's Kospi lost 0.77%.
Reuters reported that Asian shares retreated from a 2.5-month high today as investors turned away from emerging markets due to uncertainties over global trade relations, and expectations of more US rate hikes and a wind down of a massive monetary stimulus in Europe.
Source: The Edge
Comments
Post a Comment