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 21): The FBM KLCI fell 15.34 points or 0.9% today to close at 1,695.37 after US equities dropped overnight on Tuesday with crude oil prices amid world economic growth concerns.
Reuters reported that US stocks sold off for a second day on Tuesday as energy shares dropped with oil prices, and retailers including Target and Kohl's sank after weak earnings and forecasts, fueling worries about economic growth.
Today, it was reported that Asian stocks slipped as intensifying concerns about global economic growth gripped financial markets, sending Wall Street shares tumbling and driving the safe haven dollar up from a two-week low.
In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com: “The KLCI was dragged down by the poor performance seen overnight in US markets, which reflects the globally weak sentiment on equities."
At 5pm, worst-hit among the 30 KLCI stocks, in percentage terms, was Axiata Group Bhd followed by Malaysia Airports Holdings Bhd. Axiata shares fell 2.56% to close at RM3.42 while Malaysia Airports dropped 2.26% to RM7.80.
Across Bursa Malaysia, 2.05 billion shares worth RM1.94 billion were traded.
Top decliners included Malaysian Pacific Industries Bhd and Fraser & Neave Holdings Bhd.
Leading gainers included British American Tobacco (M) Bhd and Batu Kawan Bhd.
Source: The Edge
Comments
Post a Comment