KUALA LUMPUR, Aug 18 (Bernama) -- Bursa Malaysia ended higher on Tuesday, outperforming most regional markets as investors continued to rotate towards commodity and plantation-related stocks, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.47 points, or 0.43 per cent, to 1,733.36 compared with Monday’s close of 1,725.89. The benchmark index opened 1.63 points higher at 1,727.52, and fluctuated between 1,723.60 and 1,734.53 throughout the day. On the broader market, losers outpaced gainers 762 to 438, while 576 counters were unchanged, 1,075 untraded and 16 suspended. Turnover expanded to 3.74 billion units valued at RM2.91 billion from 3.45 billion units valued at RM2.74 billion on Monday.
KUALA LUMPUR (Nov 12): The FBM KLCI closed down 11.95 points or 0.7% at its intraday low. Analysts said investors were concerned over the impact of crude oil prices on Malaysian government finances as they evaluated the depreciating ringgit against a strengthening US dollar.
At 5pm, the KLCI closed at 1,696.14. Across Bursa Malaysia, 1.63 billion shares worth RM1.32 billion were traded. In currency markets, the ringgit weakened to 4.1880 against the US dollar at the time of writing after trading between 4.1797 and 4.1890 today.
“Our Budget 2019 [allocation] is based on an average crude oil price of US$70 per barrel. But now that crude oil prices have fallen to the US$70 range, if it continues to tank below US$70, we are at risk of not meeting the Budget deficit of 3.4% of gross domestic product,” Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com.
Reuters reported that front-month Brent crude futures, a benchmark for global oil prices, were at US$71.59 per barrel at 0749 GMT while US West Texas Intermediate crude futures were transacted at US$61.15 per barrel.
At current levels, it was reported that oil prices have fallen about 20% since early October.
Across Bursa Malaysia today, top decliners included KLCI-linked stocks Hong Leong Financial Group Bhd and Petronas Dagangan Bhd.
Top gainers included Malaysian Pacific Industries Bhd and Dufu Technology Corp Bhd.
Source: The Edge
Across Bursa Malaysia today, top decliners included KLCI-linked stocks Hong Leong Financial Group Bhd and Petronas Dagangan Bhd.
Top gainers included Malaysian Pacific Industries Bhd and Dufu Technology Corp Bhd.
Source: The Edge
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