KUALA LUMPUR, Sept 7 (Bernama) -- Bursa Malaysia traded higher on Monday, supported by renewed buying interest in selected banking and telecommunications heavyweights, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.69 points, or 0.39 per cent, to 1,714.79, compared with Friday’s close of 1,708.10. The benchmark index opened 1.60 points higher at 1,709.70 and fluctuated between 1,708.26 and 1,715.29 throughout the trading session. The broader market, however, was negative with losers outpacing gainers 611 to 488, while 580 counters were unchanged, 1,109 untraded and 25 suspended. Turnover declined to 3.60 billion units valued at RM2.45 billion from 4.33 billion units valued at RM2.98 billion on Friday.
KUALA LUMPUR (Jan 4): The FBM KLCI closed 6.05 points or 0.36% lower today after US stocks fell substantially overnight on Thursday amid weaker outlook on China's and US' economies.
At 5pm, the KLCI closed at 1,669.78. Overnight in the US, Reuters reported the Dow Jones Industrial Average fell 660.02 points or 2.83 percent, to 22,686.22, the S&P 500 lost 62.14 points, or 2.48 percent, to 2,447.89 and the Nasdaq Composite dropped 202.43 points, or 3.04 percent, to 6,463.50.
It was reported that a survey from the Institute for Supply Management (ISM) on Thursday showed US factory activity hit the brakes in December as new orders slowed sharply. It was reported that the dismal report came after Chinese data on Monday showed its manufacturing activity contracted in December for the first time in more than two years.
In Malaysia today, Malacca Securities Sdn Bhd head of research Victor Wan told theedgemarkets.com that "weak global market sentiment, mainly due to the China-US trade war, weighed on Malaysian stocks."
Across Bursa Malaysia, the bourse saw 2.2 billion shares worth RM1.29 billion traded. Top decliners included Tenaga Nasional Bhd and Malaysia Airports Holdings Bhd.
Bursa Malaysia small market capitalisation (small-cap) stocks rose. Bursa Malaysia's small-cap index closed up 129.84 points or 1.16% at 11,333.73.
Wan said small-cap stocks saw a reprieve today after being “severely beaten down” for a year.
Source: The Edge
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