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 30): The FBM KLCI closed down 6.3 points or 0.37% today while trading volume across Bursa Malaysia shrank below two billion shares after investors took profit ahead of the Federal Territory Day holiday on Friday.
Today, the KLCI closed at 1,684.11 at 5pm, led by the decline in Tenaga Nasional Bhd, Top Glove Corp Bhd and Petronas Chemicals Group Bhd shares.
Across Bursa Malaysia, 1.92 billion shares were traded for RM1.73 billion. Yesterday, 2.23 billion shares worth RM2.03 billion were traded.
Today, Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com : “The trading volume today has shrunk below the two billion level. Also, investors are booking their profits as they continue to monitor developments on US-China trade talks that is ongoing."
Reuters reported that China's Vice Premier Liu He is in Washington this week to meet US officials, including US President Donald Trump. It was reported that US Treasury Secretary Steve Mnuchin said on Tuesday he expected to see significant progress in talks with Chinese officials and that US charges against telecommunications giant Huawei Technologies Co Ltd were a separate issue.
Investors are also waiting for the US Federal Reserve's monetary policy guidance.
It was reported that interest rates were also in focus as the Federal Reserve began a two-day monetary policy meeting, which ends on Wednesday. It was reported that the Federal Reserve is widely expected to leave rates unchanged on Wednesday, and investors will look to Friday's January jobs report for clues about the pace of future inflation.
Source: The Edge
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