KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Aug 30): The FBM KLCI closed slightly lower today on profit taking in some index-related counters ahead of the National Day holiday tomorrow and due to disappointing earnings.
The KLCI closed 0.05% or 0.98 point lower at 1,819.66.
A look at the market breath saw the decliners leading gainers by 685 to 299, while 350 counters traded unchanged. A total of 2.63 billion shares worth RM2.96 billion changed hands in the open market.
Top gainers included British American Tobacco (M) Bhd, while Supermax Corp Bhd led decliners. Hibiscus Petroleum Bhd was the day's most active counter.
Hong Leong Investment Bank's head of retail research Loui Low said the KLCI was impacted by profit-taking activities in selected counters.
"There is also a sharp selldown in the broader market as earnings results have been mixed with a slight bias towards negative," Low said, citing Telekom Malaysia Bhd as an example.
He added that the selling pressure in the broader market has been ongoing for a while.
On the regional front, Japan's Nikkei 225 was up by 0.09% or 21.28 points to 22,869.50. The MSCI Asia Apex 50 was, however, lower by 0.18% or 2.29 points to 1,272.22.
Reuters reported that the Nikkei eked out small gains after touching a more than three-month high today as positive developments in trade negotiations underpinned sentiment, but investors wasted no time taking profits from the gains in late trade.
Source: The Edge
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