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 12): The FBM KLCI closed 22.25 points or 1.3% higher on bargain hunting and as Asian stock markets tracked US equity futures' rise.
At 5pm, the KLCI ended at 1,730.74 points as KLCI-linked stocks Petronas Gas Bhd, Tenaga Nasional Bhd and Malayan Banking Bhd ended among Bursa Malaysia top gainers. The KLCI closed higher today on bargain hunting after the 30-stock index fell 26.69 points or 1.54% yesterday.
Today, Asian stock markets tracked US equity futures' rise. Japan's Nikkei 225 closed up 0.46%, South Korea's Kospi increased 1.51% while Hong Kong’s Hang Seng rose 2.12%.
At 5:.04pm, the US' S&P 500 and Nasdaq futures rose 21.5 and 84 points respectively. At 5.05pm, the Dow Jones Industrial Average futures climbed 174 points.
In Malaysia, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said the Malaysian stock market's direction next week depends on US stocks' performance today (Friday).
“You can’t really tell (what it will be) because tonight will determine what will happen next week. It is not so much of what the (US stock) futures are doing right now, but it is more on what happens tonight in New York itself,” Pong told theedgemarkets.com.
Across Bursa Malaysia today, 2.22 billion shares worth RM2.49 billion changed hands.
Top gainer Petronas Gas rose RM1.24 to close at RM18.48 while Tenaga added 32 sen to RM14.60.
Source: The Edge
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