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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Market Daily Report: FBM KLCI closes slightly higher on IHH’s late surge



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.

“Looking at the current [global] market, it’s still uncertain and volatile as the direction is still not clear,” Wong told theedgemarkets.com, stressing that there is a need for a clearer resolution on the trade war.

“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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