KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
KUALA LUMPUR (Jan 28): The FBM KLCI fell 3.53 points or 0.21% today to close below 1,700 as cautious investors awaited China-US trade dispute developments ahead of talks between both countries on Wednesday and Thursday (Jan 30 and 31).
At 5pm today, the KLCI settled at 1,697.5 after rising to its intraday high at 1,705.5 and falling to its intraday low at 1,693.63.
Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that investors are seen remaining on the sidelines until a solution to the ongoing China-US trade tension becomes clearer.
“There is nothing much to shout about at this point. It (stock market) could be possibly impacted by the falling crude oil prices but oil prices have been volatile for a while. I think the Brent crude oil could continue at the US$60-level for a while. Investors are waiting for the trade talks to result in something concrete,” he said.
Across Bursa Malaysia today, 2.25 billion shares worth RM1.95 billion
were traded. Top decliners included Hartalega Holdings Bhd and Can-One
Bhd.
Malaysian shares fell with Asian stock markets amid the ongoing China-US trade sentiment. Japan’s Nikkei 225 closed 0.6% lower while South Korea’s Kospi was down 0.02%. In China, the Shanghai Stock Exchange Composite fell 0.18% while Hong Kong Hang Seng erased intraday losses to settle up 0.03%.
Reuters reported that Asian shares retreated from earlier highs as relief on news of a deal to reopen the US government following a prolonged shutdown gave way to edginess before a key round of Sino-US trade talks.
It was reported that attention now shifts to Chinese Vice Premier Liu He's visit to the United States on Jan 30-31 for the next round of trade negotiations with Washington. It was reported that the high-level talks in Washington will include discussions about China's currency practices, US Treasury Secretary Steven Mnuchin said. He has criticized the yuan's weakness in the past, but in recent days, positive sentiment towards the talks has lifted the yuan's value against the dollar.
Source: The Edge
Malaysian shares fell with Asian stock markets amid the ongoing China-US trade sentiment. Japan’s Nikkei 225 closed 0.6% lower while South Korea’s Kospi was down 0.02%. In China, the Shanghai Stock Exchange Composite fell 0.18% while Hong Kong Hang Seng erased intraday losses to settle up 0.03%.
Reuters reported that Asian shares retreated from earlier highs as relief on news of a deal to reopen the US government following a prolonged shutdown gave way to edginess before a key round of Sino-US trade talks.
It was reported that attention now shifts to Chinese Vice Premier Liu He's visit to the United States on Jan 30-31 for the next round of trade negotiations with Washington. It was reported that the high-level talks in Washington will include discussions about China's currency practices, US Treasury Secretary Steven Mnuchin said. He has criticized the yuan's weakness in the past, but in recent days, positive sentiment towards the talks has lifted the yuan's value against the dollar.
Source: The Edge
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