KUALA LUMPUR, July 9 (Bernama) -- Bursa Malaysia closed lower on Thursday as renewed geopolitical tensions in West Asia weighed on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points, or 0.36 per cent, to 1,677.64 from Wednesday's close of 1,683.61. The benchmark index opened 2.62 points lower at 1,680.99, and moved between 1,676.18 and 1,683.80 throughout the session. However, market breadth was slightly positive, with gainers leading losers 533 to 504, while 547 counters were unchanged, 1,112 untraded, and 12 suspended. Turnover slipped to 2.64 billion units valued at RM2.19 billion from 2.96 billion units valued at RM2.18 billion on Wednesday.
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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