KUALA LUMPUR, Aug 19 (Bernama) -- Bursa Malaysia ended lower on Wednesday, as elevated United States (US) Treasury yields and weakness in technology stocks weighed on investor sentiment, an analyst said. However, gains in healthcare and telecommunications stocks provided some support to the broader local market. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.04 points, or 0.12 per cent, to 1,731.32 compared with Tuesday’s close of 1,733.36. The benchmark index opened 1.39 points weaker at 1,731.97, and fluctuated between 1,725.95 and 1,733.44 throughout the day. On the broader market, losers outpaced gainers 701 to 478, while 563 counters were unchanged, 1,131 untraded and 16 suspended. Turnover shrank to 3.31 billion units valued at RM2.92 billion from 3.74 billion units valued at RM2.91 billion on Tuesday.
KUALA LUMPUR (Jan 9): The FBM KLCI closed down 4.93 points or 0.29% at 1,667.83 today after profit taking pushed the index into the red during the final trading hour.
Bursa Malaysia small market capitalisation (small-cap) stocks rose as share-trade volume across Bursa Malaysia breached three billion units.
At 5pm, the KLCI closed down at its intraday low on profit taking after the index rose to its intraday high at 1,684.08. The KLCI had earlier risen with global shares and crude oil prices amid optimism on the China-US trade talks.
Reuters reported that oil prices extended their gains, rising nearly one percent with US West Texas Intermediate crude oil futures rising above US$50 per barrel overnight for the first time in 2019.
In Malaysia today, KLCI-linked stocks dominated Bursa Malaysia's top
decliners at 5pm. Eight of Bursa Malaysia's 10 leading decliners were
KLCI stocks, which included Petronas Chemicals Bhd, Maxis Bhd, Top Glove
Corp Bhd and Hartalega Holdings Bhd.
“The stronger ringgit has negatively affected the export-oriented sector," Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com.
“Markets have been seeing improved liquidity around the world. This is partly due to the rebound in oil prices,” said Pong.
In currency markets, the ringgit was traded at 4.1143 against the US dollar at 5:32pm. Over the last one year, the ringgit had appreciated to current levels against the US dollar after depreciating to its weakest level at 4.2020.
Across Bursa Malaysia today, 3.02 billion shares changed hands for RM2.52 billion.
There were 631 gainers, more than double the 240 decliners. Yesterday, Bursa Malaysia saw 2.31 billion shares traded for RM2.03 billion.
Today, Bursa Malaysia small-cap stocks rose as investors took profit on big cap stocks. The small-cap index closed up 292.94 points or 2.52% at 11,937.87.
Source: The Edge
“The stronger ringgit has negatively affected the export-oriented sector," Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew told theedgemarkets.com.
“Markets have been seeing improved liquidity around the world. This is partly due to the rebound in oil prices,” said Pong.
In currency markets, the ringgit was traded at 4.1143 against the US dollar at 5:32pm. Over the last one year, the ringgit had appreciated to current levels against the US dollar after depreciating to its weakest level at 4.2020.
Across Bursa Malaysia today, 3.02 billion shares changed hands for RM2.52 billion.
There were 631 gainers, more than double the 240 decliners. Yesterday, Bursa Malaysia saw 2.31 billion shares traded for RM2.03 billion.
Today, Bursa Malaysia small-cap stocks rose as investors took profit on big cap stocks. The small-cap index closed up 292.94 points or 2.52% at 11,937.87.
Source: The Edge
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