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 12): The FBM KLCI gained 14.8 points or 0.88% as Asian share markets recovered from previous session's losses as US-China trade war fears linger.
At Bursa Malaysia, the KLCI closed at 1,703.57 points after reaching its intraday high at 1,704.87 points. In China, the Shanghai Stock Exchange Composite rose 2.16% while Hong Kong's Hang Seng gained 0.6%. Elsewhere, Japan's Nikkei 225 climbed 1.17%.
Reuters reported that stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the US-China trade war jolted investor sentiment.
In Malaysia, Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that "a lot of the concerns on the trade tension between the US and China have been priced into the market".
Across Bursa Malaysia, top gainers included Malayan Banking Bhd, George Kent (M) Bhd and CIMB Group Holdings Bhd. The most-active stock was Malaysian Resources Corp Bhd (MRCB).
George Kent hit limit up after rising 30 sen to close at RM1.29 after Finance Minister Lim Guan Eng said in a statement today the Malaysian Cabinet has approved the continuation of the planned Light Rail Transit Line 3 (LRT3) project at a final cost of RM16.63 billion.
"The final total cost of the LRT3 project is reduced by 47% from RM31.65 billion to RM16.63 billion, saving Malaysians a total of RM15.02 billion," Lim said. According to LRT3's website, MRCB George Kent Sdn Bhd is the project delivery partner for the project.
MRCB George Kent is a joint venture company between MRCB and George Kent, according to LRT3's website. At Bursa Malaysia, MRCB rose 16 sen to close at 74 sen with some 200 million units traded.
Source: The Edge
Comments
Post a Comment