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 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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