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 26): The FBM KLCI closed at 1,683.06 points today, down
49.08 points or 2.83% for the week no thanks to current weak sentiment
globally.
"I don't think we've seen the bottom yet," said TA Securities senior technical analyst Stephen Soo, who opined that the choppiness seen in the local market is set to continue into next week.
Share prices across the board were mixed with 414 losers versus 347 gainers. Total trading volume dropped below two billion mark at 1.82 billion for RM1.68 billion.
Most actively traded counters were Seacera Group Bhd, Gamuda Bhd and Nova MSC Bhd, while top decliners were KESM Industries Bhd, Ajinomoto (Malaysia) Bhd and Malaysian Pacific Industries Bhd.
Gainers were led by Selangor Properties Bhd, which announced a proposed selective capital repayment scheme to pave the way for privatisation, British American Tobacco (Malaysia) Bhd and Batu Kawan Bhd.
Globally, stocks have been sliding towards their worst week in more than five years, fueled by concerns over corporate earnings results and global trade and economic growth, Reuters reported.
Asian shares were on track for their fifth weekly loss based on the MSCI Asia index, which has fallen more than 4% this week, the newswire said.
Source: The Edge
"I don't think we've seen the bottom yet," said TA Securities senior technical analyst Stephen Soo, who opined that the choppiness seen in the local market is set to continue into next week.
Share prices across the board were mixed with 414 losers versus 347 gainers. Total trading volume dropped below two billion mark at 1.82 billion for RM1.68 billion.
Most actively traded counters were Seacera Group Bhd, Gamuda Bhd and Nova MSC Bhd, while top decliners were KESM Industries Bhd, Ajinomoto (Malaysia) Bhd and Malaysian Pacific Industries Bhd.
Gainers were led by Selangor Properties Bhd, which announced a proposed selective capital repayment scheme to pave the way for privatisation, British American Tobacco (Malaysia) Bhd and Batu Kawan Bhd.
Globally, stocks have been sliding towards their worst week in more than five years, fueled by concerns over corporate earnings results and global trade and economic growth, Reuters reported.
Asian shares were on track for their fifth weekly loss based on the MSCI Asia index, which has fallen more than 4% this week, the newswire said.
Source: The Edge
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