KUALA LUMPUR, Sept 25 (Bernama) -- Bursa Malaysia ended flat on Friday amid concerns over rising US Treasury yields and escalation in West Asia. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.69 points, or 0.04 per cent, to 1,671.62, from Thursday’s close of 1,672.31. The benchmark index, which opened 2.56 points higher at 1,674.87, moved between 1,666.99 and 1,675.47 during the day. Market breadth was nearly even, with decliners outnumbering gainers 590 to 575. A total of 534 counters were unchanged, while 1,224 were untraded and 43 suspended. Turnover widened to 4.07 billion units worth RM2.69 billion from 3.32 billion units valued at RM2.74 billion on Thursday.
KUALA LUMPUR (Jan 30): The FBM KLCI closed down 0.58 point at its intraday low after late selling of KLCI-linked stocks led to a sharp drop in the index during the final trading hour.
Fund managers said the late selling could be due to investors' month-end portfolio restructuring ahead of the Federal Territory Day holiday tomorrow.
At 5pm today, the KLCI closed at 1,683.53 after rising to its intraday high at 1,695.4. The KLCI was in green territory for most of the day as global investors took cue from the US Federal Reserve's interest rate stance.
Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng told theedgemarkets.com that the KLCI closed in the red due to last-minute selling in selective KLCI stocks, possibly due to portfolio restructuring.
“There’s possibly a mandate to sell down some of the big stocks held
by January, and today is the last day of the month,” said Wong.
Malaysian markets will be closed tomorrow for the Federal Territory Day
holiday.
KLCI stocks Tenaga Nasional Bhd and Hong Leong Bank Bhd's share prices closed lower after falling sharply at the 11th hour. Tenaga closed 24 sen down at RM12.90 while Hong Leong Bank dropped 14 sen to RM20.64.
Tenaga and Hong Leong ended among Bursa Malaysia top decliners. Across Bursa Malaysia, 2.37 billion shares worth RM2.42 billion were traded as global investors took cue from the US Federal Reserve's interest rate stance.
Reuters reported that Asia stocks rose to a four-month high on Thursday after the Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth.
Source: The Edge
KLCI stocks Tenaga Nasional Bhd and Hong Leong Bank Bhd's share prices closed lower after falling sharply at the 11th hour. Tenaga closed 24 sen down at RM12.90 while Hong Leong Bank dropped 14 sen to RM20.64.
Tenaga and Hong Leong ended among Bursa Malaysia top decliners. Across Bursa Malaysia, 2.37 billion shares worth RM2.42 billion were traded as global investors took cue from the US Federal Reserve's interest rate stance.
Reuters reported that Asia stocks rose to a four-month high on Thursday after the Federal Reserve pledged to be patient with further interest rate hikes, signalling a potential end to its tightening cycle amid signs of slowing global growth.
Source: The Edge
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