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 (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
Comments
Post a Comment