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 (Nov 1): The FBM KLCI fell 2.35 points or 0.14% to close at 1,706.92 points today as risk-averse investors held back ahead of Malaysia's Budget 2019 announcement tomorrow.
Today, Areca Capital Sdn Bhd CEO Danny Wong told theedgemarkets.com that Malaysian stock market sentiment is uncertain currently ahead of the Budget announcement. Globally, there is also lingering uncertainty due to the US-China trade dispute, Wong said.
“Investors are holding back ahead of Budget 2019, which makes this week crucial for the local market," Wong said.
Across Bursa Malaysia today, 2.18 billion shares worth RM1.66 billion were traded.
Top decliners included Dutch Lady Milk Industries Bhd, Fraser & Neave Holdings Bhd and Ajinomoto (M) Bhd while gainers were led by British American Tobacco (M) Bhd.
Asian stock markets ended mixed. In China, Hong Kong’s Hang Seng gained 1.75% while the Shanghai Stock Exchange Composite rose 0.13%. Elsewhere across Asia, Japan’s Nikkei 225 and South Korea’s Kospi declined 1.06% and 0.26% respectively.
Reuters reported that MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, adding to modest gains the previous day, though this came after a brutal October month.
It was reported that the index had fallen 10.2 percent in October, its worst monthly performance since August 2015, as factors ranging from Sino-US trade tensions to worries about global economic growth, higher US interest rates and company earnings spurred volatility in global markets.
Source: The Edge
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