KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Oct 3): The FBM KLCI closed down 1.85 points or 0.1% in tandem with the fall in Asian share markets.
At 5pm, the KLCI closed at 1,796.3 points. Across Asia, Japan’s Nikkei 225 declined 0.66% while Hong Kong’s Hang Seng was down 0.13%.
“The FBM KLCI closed down slightly today from yesterday's closing price in tandem with the negative performance of regional peers,” Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com.
Reuters reported that Asian shares slipped on Wednesday as oil prices near four-year highs at above US$85 a barrel threatened to roil emerging economies, while the euro rebounded from six-week lows on reports Italy will reduce its Budget deficit more quickly than expected.
It was reported that the Indian rupee opened at a record low on Wednesday and further weakening of Indonesia's embattled rupiah prompted central bank intervention as an overnight spike in oil prices weighed heavily on the currencies. The rupee and the rupiah are highly exposed to fluctuations in oil prices, because Indonesia and India import most of their oil requirements.
Source: The Edge
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