KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
KUALA LUMPUR (Jan 18): The FBM KLCI closed higher for the second day running today following a news report that the Trump administration is considering easing tariffs imposed on Chinese imports.
The benchmark index closed up 9.25 points or 0.55 % at 1,692.22.
TA Securities Holdings Bhd technical analyst Steven Soo said the market’s performance was boosted by the report on the possible lifting by the US of the tariffs levied against China.
Soo said the rise in oil prices after the Organisation of the Petroleum Exporting Countries (OPEC) members reported the biggest monthly drop in production in nearly two years also served as a positive catalyst to the stock market.
“Should the market sentiment improve from here, the psychological
resistant levels to watch are the 1,700 level, and this followed by
1,722 to 1,742 level,” Soo told theedgemarkets.com, adding that the key
support level to look at is 1,680.
The Wall Street Journal reported yesterday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan 30.
Some 3.05 billion shares worth RM 2.12 billion were traded on Bursa Malaysia today, with gainers leading losers by 450 to 341, while 429 counters closed unchanged.
Top gainers included Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd and United Plantation Bhd.
Among top decliners were Chin Teck Plantations Bhd, Lysaght Galvanized Steel Bhd and Muhibbah Engineering Bhd.
CNBC reported that Asia Pacific markets traded mostly higher today as investors cheered the WSJ report, with the Shanghai Stock Exchange Composite closing up 1.42%, and Hong Kong's Hang Seng up 1.25%.
In Japan, the Nikkei 225 rose 1.29% while South Korea's Kospi gained 0.82%.
According to Bloomberg data, Brent crude price rose 0.51% to US$61.51 per barrel, while US West Texas Intermediate was up 0.65% at US$52.41 per barrel as at 5.30pm.
Source: The Edge
The Wall Street Journal reported yesterday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan 30.
Some 3.05 billion shares worth RM 2.12 billion were traded on Bursa Malaysia today, with gainers leading losers by 450 to 341, while 429 counters closed unchanged.
Top gainers included Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd and United Plantation Bhd.
Among top decliners were Chin Teck Plantations Bhd, Lysaght Galvanized Steel Bhd and Muhibbah Engineering Bhd.
CNBC reported that Asia Pacific markets traded mostly higher today as investors cheered the WSJ report, with the Shanghai Stock Exchange Composite closing up 1.42%, and Hong Kong's Hang Seng up 1.25%.
In Japan, the Nikkei 225 rose 1.29% while South Korea's Kospi gained 0.82%.
According to Bloomberg data, Brent crude price rose 0.51% to US$61.51 per barrel, while US West Texas Intermediate was up 0.65% at US$52.41 per barrel as at 5.30pm.
Source: The Edge
Comments
Post a Comment