KUALA LUMPUR, Oct 16 (Bernama) -- Bursa Malaysia closed lower on Friday as buying interest shifted from index heavyweights to smaller-cap technology and telecommunications stocks as well as real estate investment trusts (REITs). At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 15.94 points, or 0.98 per cent, to 1,607.76 from Thursday’s close of 1,623.70. The benchmark index, which opened 1.13 points higher at 1,624.83, moved between 1,602.98 and 1,626.34 throughout the session. On the broader market, gainers outnumbered decliners 597 to 470, while 518 counters were unchanged, 1,258 untraded and 33 suspended. Turnover rose 3.13 billion units worth RM3.27 billion from 3.06 billion units worth RM3.03 billion on Thursday.
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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