KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
KUALA LUMPUR (Jan 23): The FBM KLCI declined today, tracking regional movements after the overnight selldown on Wall Street and the fall in crude oil prices.
The benchmark index closed 13.98 points or 0.82% lower at 1,688.14, after moving between 1,680.84 and 1,690.76.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the market was jittery as sentiment was not only affected by the overnight fall on Wall street, but also the first decline in oil price in the past five days.
“Investors globally are watching out for the upcoming US corporate earnings growth, but the market seems to be pessimistic about the upcoming reporting season. We are expecting the KLCI to trend sideways and be limited to 1,700 points this week,” Leong told theedgemarkets.com.
“We are not expecting a pre-Lunar New Year rally this year as well,
simply because there is not much growth catalyst, unless we see some
positive news flow, like an easing of tensions on the trade war.”
Reuters reported that Asian stocks trod water today as concerns over the outlook for global economic growth and the ongoing Sino-US trade war kept investors away from riskier assets.
Japan’s Nikkei closed 0.14% lower, while the Hong Kong Hang Seng Index inched up 0.01% and South Korea’s Kospi rose 0.47%.
Domestically, total trading volume was 2.07 billion shares, worth RM1.92 billion. There were 325 gainers versus 468 losers, with 376 counters remaining unchanged.
Notable gainers were KUB Malaysia Bhd and FGV Holdings Bhd, while the top loser was Petronas Dagangan Bhd.
Bumi Armada Bhd was the most actively traded counter, with 201.48 million shares done.
Source: The Edge
Reuters reported that Asian stocks trod water today as concerns over the outlook for global economic growth and the ongoing Sino-US trade war kept investors away from riskier assets.
Japan’s Nikkei closed 0.14% lower, while the Hong Kong Hang Seng Index inched up 0.01% and South Korea’s Kospi rose 0.47%.
Domestically, total trading volume was 2.07 billion shares, worth RM1.92 billion. There were 325 gainers versus 468 losers, with 376 counters remaining unchanged.
Notable gainers were KUB Malaysia Bhd and FGV Holdings Bhd, while the top loser was Petronas Dagangan Bhd.
Bumi Armada Bhd was the most actively traded counter, with 201.48 million shares done.
Source: The Edge
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