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 (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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