KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia’s key index finished marginally higher, supported by strong buying interest in consumer-related counters, amid mixed performance across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 1.40 points, or 0.08 per cent, to 1,711.39 from Tuesday's close of 1,709.99. The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.31 and 1,722.63 throughout the session. Market breadth was negative, with losers leading gainers 678 to 493, while 549 counters were unchanged, 1,016 untraded and 34 suspended. Turnover increased to 4.50 billion units worth RM3.45 billion from 3.93 billion units worth RM3.45 billion on Tuesday.
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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