KUALA LUMPUR, Jan 28 (Bernama) -- Bursa Malaysia snapped its five-day winning streak to close lower on Wednesday, as investors took profit following a cumulative gain of 4.25 per cent over the past five sessions, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 14.76 points or 0.83 per cent to 1,756.49 from Tuesday’s close of 1,771.25. The market bellwether opened 1.46 points lower at 1,769.79, marking the day’s high, and hit a low of 1,750.05 during the mid-afternoon session. Market breadth was negative with losers trouncing gainers 876 to 384, while 525 counters were unchanged, 964 untraded and 94 suspended. Turnover improved to 3.65 billion units worth RM4.41 billion from Tuesday's 3.58 billion units worth RM4.46 billion.
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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