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 (July 19): The FBM KLCI gained 6.17 points or 0.35% after foreign investors became net buyers of Malaysian shares and as Bursa Malaysia construction stocks rose.
Bursa Malaysia construction stocks rose after Prime Minister Tun Dr Mahathir Mohamad said today Malaysia will defer the planned Kuala Lumpur-Singapore High Speed Rail (HSR) instead of unilaterally cancelling the project.
At 5pm, the KLCI closed at 1,759.24 points. Bursa Malaysia's construction index gained 10.14 points or 4.87% to 218.43 points.
“If you look at the trade today, the construction sector has been doing very well. News reports talked about the likelihood of a return of the Kuala Lumpur-Singapore HSR project,” Rakuten Trade Sdn Bhd vice president of research Vincent Lau told theegemarkets.com over telephone.
The selldown of Malaysian shares by foreign investors has toned down recently. Lau said today foreign investors turned into net buyers of Malaysian shares for the first time in July 2018 yesterday.
Today, Malaysia's construction sector and foreign investor sentiment led to a notable rise in share-trade volume and value across Bursa Malaysia. A total of 3.49 billion shares worth RM3.03 billion were traded. Yesterday, the bourse saw 2.63 billion shares transacted for RM2.18 billion.
Today, Bursa Malaysia top gainers included Malayan Banking Bhd and Iskandar Waterfront City Bhd (IWCity). IWCity rose 17.5 sen to 74.5 sen with about 134 million shares traded to close among Bursa Malaysia's most-active counters.
Source: The Edge
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