KUALA LUMPUR, Jan 8 (Bernama) -- Bursa Malaysia’s benchmark index closed lower on Thursday amid profit-taking in big-cap stocks, as investors shifted their focus to smaller-cap counters against the backdrop of weaker regional market performance. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.26 points or 0.43 per cent to 1,669.57 from Wednesday’s close of 1,676.83. The FBM KLCI opened 2.61 points lower at 1,674.22 and moved between 1,666.34 and 1,674.44 throughout the day. On the broader market, gainers led losers by 579 to 489, while 565 counters were unchanged, 1,016 untraded, and 12 suspended. Turnover was slightly higher at 2.79 billion units worth RM2.84 billion from Wednesday’s 2.73 billion units worth RM2.76 billion.
KUALA LUMPUR (Nov 8): Malaysian stocks closed higher for second straight day today as foreign investors continued to buy into market.
The benchmark FBM KLCI ended 6.54 points or 0.38% higher at 1,721.42 points, led by telecommunication stocks. The gain also mirror the moves globally after Wall Street's overnight rally.
According to Inter-Pacific Securities research head Pong Teng Siew, foreign buying helped propped up the local stock market, as well as gains in Maxis Bhd, DiGi.com Bhd and Axiata Group Bhd.
Additionally, Pong said the recovery in oil prices has helped the market. Brent crude futures rose 0.42% to US$72.37 per barrel at the time of writing.
Shares of Maxis closed 11 sen or 2.04% higher at RM5.51 for a market capitalisation of RM43.07 billion, while DiGi closed up six sen or 1.35% at RM4.50, valuing it at RM34.99 billion.
Axiata, on the other hand, closed two sen or 0.56% higher at RM3.62, bringing its market capitalisation of RM32.84 billion.
Trading volume decreased to 2.28 billion shares worth RM2.29 billion compared with yesterday's 2.32 billion shares worth RM2.5 billion. Gainers led losers by 475 to 357, while 361 counters remained unchanged.
Reuters reported that Asian stocks scaled a one-month peak on Thursday, after investors drove a Wall Street rally on relief the US midterm elections delivered no major political surprises, while the dollar bounced and pulled away from two-and-a-half-week low.
Across Asia, Japan's Nikkei 225 grew 1.82%, South Korea's Kospi rose 0.67% while Hong Kong’s Hang Seng was up 0.31%.
Source: The Edge

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