KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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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