KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Oct 29): The FBM KLCI managed to close in positive territory today after six straight days of decline, thanks mainly due to buying at the 11th hour in IHH Healthcare Bhd.
The key index closed 0.67 points or 0.04% higher at 1,683.73.
Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said there were still uncertainties in the market due to external issues like the US-China trade war and the mid-term elections in the US, and also domestic matters.
“Basically, investors are waiting for the D-day on Nov 2 or Nov 5,” said Wong, adding that IHH, DiGi.Com Bhd and Sime Darby Bhd contributed to the lift of the KLCI today.
Top gainer IHH closed 26 sen or 5.42% higher at RM5.06, while losers were led by Malayan Banking Bhd which fell 17 sen or 1.8% to RM9.27.
Total turnover on Bursa Malaysia was 1.85 billion shares worth RM1.43 billion. Losers led gainers by 588 to 223, while 349 counters remained unchanged.
Elsewhere in Asia, Japan's Nikkei 225 dropped 0.16%, South Korea's Kospi fell 1.53% while Hong Kong’s Hang Seng was up 0.38%.
Reuters reported worries about China’s slowing economy spread across Asian markets today with US stock futures turning down and Chinese shares in the red as concerns about US corporate earnings and global growth continued to hit sentiment.
The losses in Asia were largely led by China’s blue-chip index which tumbled over 3.3% following disappointing earnings from the country’s top liquor maker, Kweichow Moutai, the newswire added.
Source: The Edge
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