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 (Aug 28): The FBM KLCI continued with its strong momentum with sentiment further lifted by external optimism on news of the United States-Mexico trade deal.
The key index ended the day up 15.30 points or 0.84% to a new three-month high of 1,826.90.
On the broader market, decliners led gainers by 512 to 350, with 473 counters traded unchanged. About 2.57 billion shares worth RM2.29 billion were traded.
TA Securities technical analyst Stephen Soo said the market's rise was supported by buying in selected stocks such as Nestle (M) Bhd, which closed 70 sen higher, and Daiman Development Bhd, which closed up 65 sen.
Soo said the market will eventually come to a consensus regarding the US-Mexico trade deal, given that this would put China at a disadvantage.
"[News of the trade deal] has lifted US equities to a record high, but I believe the market is currently overshooting. So I believe a correction is due to more realistic levels," he told theedgemarkets.com.
Across the region, Japan's Nikkei breached 23,000 on the trade deal announcement before shedding most gains on profit taking, but still ending the day at its highest close since mid-June. The Nikkei closed the up 0.1% at 22,813.47.
China's Shanghai Stock Exchange Composite closed 0.1% lower at 2,777.98, while Hong Kong's Hang Seng closed higher by 0.28% at 28,351.62.
Source: The Edge
Comments
Post a Comment