KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
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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