KUALA LUMPUR, Sept 25 (Bernama) -- Bursa Malaysia ended flat on Friday amid concerns over rising US Treasury yields and escalation in West Asia. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.69 points, or 0.04 per cent, to 1,671.62, from Thursday’s close of 1,672.31. The benchmark index, which opened 2.56 points higher at 1,674.87, moved between 1,666.99 and 1,675.47 during the day. Market breadth was nearly even, with decliners outnumbering gainers 590 to 575. A total of 534 counters were unchanged, while 1,224 were untraded and 43 suspended. Turnover widened to 4.07 billion units worth RM2.69 billion from 3.32 billion units valued at RM2.74 billion on Thursday.
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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