KUALA LUMPUR, March 30 (Bernama) -- Bursa Malaysia’s benchmark index closed lower today, in line with most regional markets, as investors adjusted their risk exposure amid spiralling oil prices driven by the ongoing West Asia conflict, now in its second month. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated by 24.75 points or 1.44 per cent to 1,687.90 from Friday’s close of 1,712.65. The market bellwether opened 10.57 points weaker at 1,702.08 and fluctuated between 1,682.79 and 1,702.38. The broader market was bearish, with decliners thumping advancers 956 to 371. A total of 373 counters were unchanged, 1,042 untraded and 134 suspended. Turnover expanded to 3.98 billion units worth RM4.85 billion from last Friday’s 2.97 billion units worth RM3.25 billion.
KUALA
LUMPUR (Nov 15): The FBM KLCI closed up 5.8 points or 0.34% at 1,694.21
as anticipation of China-US trade war de-escalation spurred Asian stock
markets' rise.
In China, Hong Kong’s Hang Seng gained 1.75% while the Shanghai Stock Exchange Composite climbed 1.36%. Elsewhere across Asia, South Korea’s Kospi rose 0.97%.
Reuters reported that Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the US may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%.
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com the KLCI appeared to have bottomed out as most of the negative news flow, such as the ringgit's weakening against the US dollar as well as the decline in crude oil prices, have been factored in by investors.
“I think the index (KLCI) has more or less bottomed out. Most of the bad news have been factored in and next year’s Budget has been announced, which has provided some clarity. There’s not much else that could drive the market down at this point.
“The next factor that could move the market would be the announcement of corporate earnings for the third quarter of the year,” he said.
Across Bursa Malaysia today, 1.99 billion shares worth RM1.88 billion were traded.
Top gainers included Ajinomoto (M) Bhd and British American Tobacco (M) Bhd. Leading decliners included Fraser & Neave Holdings Bhd and PPB Group Bhd.
Source: The Edge
In China, Hong Kong’s Hang Seng gained 1.75% while the Shanghai Stock Exchange Composite climbed 1.36%. Elsewhere across Asia, South Korea’s Kospi rose 0.97%.
Reuters reported that Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the US may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%.
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com the KLCI appeared to have bottomed out as most of the negative news flow, such as the ringgit's weakening against the US dollar as well as the decline in crude oil prices, have been factored in by investors.
“I think the index (KLCI) has more or less bottomed out. Most of the bad news have been factored in and next year’s Budget has been announced, which has provided some clarity. There’s not much else that could drive the market down at this point.
“The next factor that could move the market would be the announcement of corporate earnings for the third quarter of the year,” he said.
Across Bursa Malaysia today, 1.99 billion shares worth RM1.88 billion were traded.
Top gainers included Ajinomoto (M) Bhd and British American Tobacco (M) Bhd. Leading decliners included Fraser & Neave Holdings Bhd and PPB Group Bhd.
Source: The Edge
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