KUALA LUMPUR, June 19 (Bernama) -- Bursa Malaysia’s composite index ended the week higher, extending its gains for a seventh consecutive session, supported by strong late-session buying in selected blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.64 of a point, or 0.03 per cent, to close at an intraday high of 1,712.03 from Thursday's close of 1,711.39. The key index opened 7.35 points weaker at 1,704.04 and slipped to an intraday low of 1,699.18 in early trade. Market breadth was negative, with losers leading gainers 525 to 491, while 547 counters were unchanged, 1,173 untraded and 34 suspended. Turnover slipped to 3.45 billion units worth RM3.79 billion from 4.50 billion units worth RM3.45 billion on Thursday.
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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