KUALA LUMPUR, Sept 28 (Bernama) -- Bursa Malaysia ended marginally lower on Monday amid selling activity as the market lacked fresh catalysts to spur investors’ buying interest, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.60 points, or 0.09 per cent, to 1,670.02, from Friday’s close of 1,671.62. The benchmark index, which opened 0.93 of-a-point higher at 1,672.55, moved between 1,668.61 and 1,674.11 throughout the trading session. Market breadth was negative as losers surpassed gainers 748 to 388, while 517 counters were unchanged, 1,271 untraded and 91 suspended. Turnover slipped to 3.11 billion units worth RM2.40 billion from 4.07 billion units valued at RM2.69 billion on Friday.
KUALA LUMPUR (Dec 5): The FBM KLCI joined other Asian stock indices in tracking losses on Wall Street yesterday amid plunging US Treasury yields and continued uncertainties over the US-China trade dispute.
The benchmark index closed down 6.72 points or 0.4% at 1,688.27. It was mostly dragged by telco stocks, namely Maxis Bhd, Axiata Group Bhd and DiGi.com Bhd.
“The decline was mostly influenced by external factors today,” said Vincent Khoo, head of research at UOB Kay Hian.
Across Bursa Malaysia, 519 declining counters outpaced the 251 stocks that recorded gains.
The most actively traded stocks were Bumi Armada Bhd, Techbond Group Bhd and Hibiscus Petroleum Bhd.
Volume was weak, however, with a total of 1.75 billion shares traded with a total value of RM1.52 billion.
Across Asia, stocks followed their American counterparts, which were down as the spread between two- and 10-year Treasury yields were at their flattest level in over a decade, according to Reuters.
Trade tensions have also re-emerged as negotiations begin between the US and China to reach an agreement.
“MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5%. The Shanghai Composite Index slipped 0.6% and Japan's Nikkei dropped 0.5%,” Reuters reported.
Source: The Edge
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