KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (Oct 31): The FBM KLCI rose with Asian shares today, driven by bargain hunting.
At 5pm, the KLCI rose 23.33 points or 1.38% to close at 1,709.27 points. Gainers led losers by 611 to 176, while 430 counters traded unchanged.
Top gainers included Ajinomoto (Malaysia) Bhd, Dutch Lady Milk Industries Bhd and Tenaga Nasional Bhd.
"The Malaysian stock market is oversold and I expect the market shall continue to recover some losses as bargain hunters will continue to pick up [those] at cheaper valuations," Malacca Securities head of research Victor Wan told theedgemarkets.com.
"Key level of resistance to look at is 1,720. Conversely, support levels can be identified at 1,680 and 1,700," Wan added.
Across Asia, Japan's Nikkei rose 2.16%, while Hong Kong's Hang Seng rose 1.6% and South Korea's Kospi climbed 0.74%.
Reuters reported that Asian stocks clawed up from 20-month lows on Wednesday amid pledges by China to support its markets, but investor confidence was brittle after equity markets bled trillions of dollars this month.
Factors ranging from Sino-US trade tensions to worries about global economic growth, higher US interest rates and company earnings have spurred volatility in financial markets in the past few weeks, the newswire added.
Source: The Edge
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