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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Market Daily Report: FBM KLCI down as Bursa volume dips below two billion shares




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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