KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
KUALA LUMPUR (Sept 26): The FBM KLCI closed 4.25 points or 0.24% higher after China-US trade war concerns subsided.
Asian shares also took cue from China equity gains after MSCI indicated it will consider quadrupling the weighting of Chinese big caps in its global benchmarks.
At Bursa Malaysia, the KLCI ended at 1,798.72 points. In China, the Shanghai Stock Exchange Composite rose 0.92% while Hong Kong’s Hang Seng was up 1.15%. Elsewhere, Japan’s Nikkei 225 was up 0.39% while South Korea markets remained close today for the Chuseok Day holiday.
Reuters reported that Asian shares pulled ahead on Wednesday as Chinese markets extended their recovery to hit eight-week highs on receding fears about the trade war as well as hopes China's weighting in the global benchmark will be increased.
It was reported that MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 percent. It was reported that MSCI said it will consider quadrupling the weighting of Chinese big caps in its global benchmarks and also proposed adding mid-caps and shares listed on Shenzhen's start-up board ChiNext.
In Malaysia, Vincent Lau, who is Rakuten Trade Sdn Bhd’s vice president of research told theedgemarkets.com that the improvement in sentiment was seen across the board as oil and gas shares emerged among Bursa Malaysia's top-active counters.
“The Malaysian stock market has seen an improved sentiment. If you look at the month of September, the (funds) outflow has moderated. In fact, I think there is a slight positive on the foreign fund flow during the month so far. It’s a sign that the concerns over the impact from US-China trade tariff (war) have moderated and much of it has been priced into the market before this,” Lau said.
Source: The Edge
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