KUALA LUMPUR, July 9 (Bernama) -- Bursa Malaysia closed lower on Thursday as renewed geopolitical tensions in West Asia weighed on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points, or 0.36 per cent, to 1,677.64 from Wednesday's close of 1,683.61. The benchmark index opened 2.62 points lower at 1,680.99, and moved between 1,676.18 and 1,683.80 throughout the session. However, market breadth was slightly positive, with gainers leading losers 533 to 504, while 547 counters were unchanged, 1,112 untraded, and 12 suspended. Turnover slipped to 2.64 billion units valued at RM2.19 billion from 2.96 billion units valued at RM2.18 billion on Wednesday.
KUALA LUMPUR (Nov 16): The FBM KLCI rose 0.72% for a third consecutive day of gains amid continued expectations of slowing trade tensions between the US and China ahead of the G20 meeting later this month.
The benchmark index trailed overnight gains at Wall Street to open higher today, and stayed flat in the green before closing up 12.17 points at 1,706.38.
Reuters reported that Asian shares had started firm after reports the US might pause on further China tariffs gave Wall Street a fillip, but a near 17% plunge in Nvidia's stock tempered the mood.
Across Bursa Malaysia, gainers led decliners by 450 counters against 345, whereas 390 counters traded unchanged. Some 1.85 billion shares worth RM1.89 billion exchanged hands.
An analyst at AmInvest Research attributed the market-wide gain to "short-term optimism based on global market movements and news on international trade".
"People are expecting [US president Donald] Trump and [China president] Xi Jinping to iron [out] some of the trade concerns in the G20 Summit in Argentina," said the analyst.
"China is a heavyweight for Asian shares, whereas the development over at Brexit is more isolated towards the EU," the analyst added.
Elsewhere in Asia, Hong Kong's Hang Seng Index rose 0.31%, South Korea's Kospi gained 0.21% and the Shanghai Stock Exchange Composite jumped 0.41%.
In Malaysia, gainers were led by KLCI component stock Nestle (M) Bhd, Apex Healthcare Bhd and Fraser & Neave Holdings Bhd. British American Tobacco (M) Bhd led decliners, followed by Panasonic Manufacturing Malaysia Bhd and KESM Industries Bhd.
Source: The Edge
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