KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
KUALA LUMPUR (Sept 25): The FBM KLCI closed 5.7 points or 0.32% lower today after China and the US' move to slap new tariffs on each other's goods yesterday continued to hit world market sentiment.
At 5pm today, the KLCI closed at its intraday low at 1,794.47 points. The KLCI extended losses today after the index fell 10.47 points yesterday.
Across the globe today, Reuters reported that Asia stocks struggled on Tuesday as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.15 percent.
It was reported that the US' Dow Jones Industrial Average fell about 0.7 percent and the S&P 500 slipped 0.35 percent overnight.
In Malaysia today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the weakness in the KLCI was also in tandem with general negative sentiment across Asian and US stock markets.
“Another factor that contributed to the negative sentiment is the renewed weakness in the ringgit against the US Dollar,” Leong said. At the time of writing, the ringgit depreciated to 4.1372 against the US dollar.
Across the KLCI, Axiata Group Bhd was the bigest decliner, in percentage terms, among the 30 index-linked stocks followed by Telekom Malaysia Bhd (TM).
At 5pm, Axiata shares slipped 21 sen or 4.4% to close at RM4.56. TM fell five sen or
1.53% to RM3.21.
Source: The Edge
Fantastic information help you to trade in the right direction in bursa Malaysia so make sure you never miss a trading opportunity by checking them on a regular basis.
ReplyDeleteBest trading tips in bursa