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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: KLCI closes up 0.44% on higher foreign buying, improved liquidity



KUALA LUMPUR (Jan 25): The FBM KLCI extended gains for the second consecutive day today, breaching the 1,700-point mark for the second time within a week, mainly underpinned by foreign funds buying key stocks and improved liquidity.

At 5pm, the benchmark index closed at its intraday high of 1,701.03 points, up 7.44 points or 0.44%. During the midday market break, the index had slipped to as low as 1,695.38 points.

According to Inter-Pacific Securities research head Pong Teng Siew, foreign buying helped prop up the local stock market, as well as the liquidity improvement in the market.

He said foreign funds started coming back to the market, since the second week of this month.  “Having said that, I think KLCI is likely to continue to trend upwards, but in a cautious mode, mainly due to local investors taking a wait-to-see approach now, pending a definite picture from the US-China trade spat and also upcoming fourth-quarter earnings results,” Pong added.

Trading volume increased to 2.48 billion shares worth RM2.05 billion, compared with yesterday's 2.44 billion shares worth RM2.12 billion. Gainers led losers by 427 to 352, while 471 counters remained unchanged.

Regionally, Reuters reported Asian stocks rallied to a seven-week high on Friday, buoyed by gains in US technology firms, as pockets of strength in corporate earnings eased some of the anxiety over a slowing global economy.

At the closing bell, Japan's Nikkei 225 grew 0.97%, South Korea's Kospi rose 1.52%. In China, Hong Kong’s Hang Seng was up 1.65% and Shanghai Stock Exchange Composite rose 0.39%.


Source: The Edge
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