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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 declines amid negative regional sentiment




KUALA LUMPUR (Oct 18): The FBM KLCI fell 0.15% today in tandem with the day's general negative performance across the region.

The benchmark index closed at 1,738.01, down 2.58 points from yesterday.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the decline reflected regional sentiments.

"This is mainly due to concerns on rising interest rates. We also saw the China stock market tumble, as the Chinese yuan depreciated against the dollar by about 0.2%.

"In Malaysia, there were some extended profit-taking as well," Leong told theedgemarkets.com.
Reuters reported that US Federal Reserve's minutes for its September meeting showed all policy makers agreed to raise key interest rates for a third time in 2018, knocking global sentiments.

The report added that heavy selling of Chinese shares also soured confidence in the Asian market day, leading to an extension of losses in Japanese stocks.

Japan's Nikkei 225 closed 0.8% lower at 22,658.16, after a surprise decline in exports data, a first in 22 months.

China's Shanghai Stock Exchange Composite fell 2.94% to 2,486.42.

On Bursa Malaysia, decliners led gainers by 438 to 307, with 436 counters traded unchanged.
Top gainers included Dutch Lady Milk Industries Bhd and Heineken Malaysia Bhd, while top actives included Borneo Oil Bhd and Malaysian Resources Corporation Bhd.



Source: The Edge
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